NEW YORK (AP) – Communications equipment company JDS Uniphase Corp. said Thursday it promoted one of its executives to president and chief executive.

Thomas Waechter's appointment will be effective Jan. 1. He was also named to the company's board of directors.

Waechter is currently president of the company's largest business segment, Communications Test and Measurement.

JDS Uniphase, based in Milpitas, Calif., provides communications test and measurement systems and optical products for telecom service providers, cable operators and network equipment makers . Its products are also used in medical instruments, semiconductor processing and other applications.

Waechter has a bachelor's degree from The College of William and Mary. He also serves as a trustee for the College of William and Mary Foundation.

Shares of JDS Uniphase fell 35 cents, or 9 percent, to $3.68, during the regular session Thursday.

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