Altera Corp has named Ronald J Pasek, a 19-year veteran of Sun Microsystems, as the company senior VP and CFO.

Pasek will report to John Daane, Altera's chairman, president, and CEO.

"Ron brings a wealth of experience from one of the pioneers in the technology industry," said Daane in a statement. "His finance and international experience will be of great value to Altera as we continue to grow internationally and increase market share."

Altera announced in June that its then CFO Timothy R Morse was resigning to pursue another opportunity. Morse, a General Electric veteran, joined the company in 2007. James W Callas, VP of finance and corporate controller, has served as Altera’s acting CFO since then.

Most recently at Sun, Pasek served as VP and corporate treasurer. He has also held a variety of vice president of finance positions at Sun, including worldwide field finance, worldwide manufacturing and US field finance. Pasek holds a BS degree from San Jose State University and an MBA from Santa Clara University.

"Altera is a technology leader with a proven track record of operational excellence and customer service," said Pasek in the statement. "I look forward to joining Altera's strong leadership team and helping drive the company to even higher levels of performance."

The appointment comes after Altera in late November upped its Q4 guidance. The company now expects sales to be up 15% to 18% on Q3’s $286.6 million opposed to its previous guidance calling for 6% to 10% growth.

Altera is scheduled to report its Q4 results after the market close on January 26, 2010.

By: DocMemory
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