Teradyne Inc. said Wednesday that Mark Jagiela, the company's president, will be its new CEO early next year.
He replaces Michael Bradley, who is retiring as chief executive. He has been CEO since 2004.
Jagiela, 53, has worked at Teradyne, which makes wireless products, data storage and equipment to test semiconductors, for 31 years. He has served as the company's president since January.
Jagiela will become CEO on Jan. 31, and will also join the board of directors. Bradley will continue as a director of the company.
Shares of the North Reading, Mass.-based company rose 13 cents to close at $17.31 Wednesday.