Shares of Anaheim’s Multi-Fineline Electronix Inc., a maker of flexible circuit boards for cell phones, rose Wednesday after the company named a new chief executive.
The stock was up nearly 6% on a recent market value of about $580 million.
Multi-Fineline, which is known as M-Flex, named Reza Meshgin as its new chief executive officer as part of a succession plan.
Longtime boss Phil Harding, 75, is set to give up the post and continue to serve as chairman.
Harding has run M-Flex since 1988 and been chairman since 2003.
Meshgin, 44, was named president and chief operating officer in 2003 with the expectation that he would ultimately become the company’s chief executive.
Meshgin, who joined the company in 1989, has helped streamline M-Flex’s operations and spearheaded a big expansion at its two manufacturing sites in China.
He has a bachelor’s in electrical engineering from Wichita State University in Kansas and a master’s in business administration from the University of California, Irvine.
