UTStarcom Inc., which makes telecommunications equipment, said Wednesday it has named Kenneth Luk as chief financial officer and senior vice president, effective immediately.
Viraj Patel has been serving as the company's interim chief financial officer while the search for a CFO based in China was being conducted. He will remain with the company for a transition period.
Luk's career spans over 30 years, including senior level financial and executive management positions at several Asia-based technology companies.
UTStarcom shares rose 16 cents, or 8.4 percent, to close at $2.06.