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Cree (CREE -5.1%) adds to the losses seen yesterday on news of CFO John Kurtzweil's plans to...

Cree (CREE -5.1%) adds to the losses seen yesterday on news of CFO John Kurtzweil's plans to leave for Extreme Networks (EXTR -2.1%). Not helping is a downbeat assessment from Canaccord, which views the move as a "momentum killer" that while drive Cree shares lower over the near-term. The firm speculates Kurtzweil's departure is linked to a shift in Cree's business model to selling LED lighting fixtures instead of LED chips.
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