Short Take: Advanced Fibre names new CEO

Advanced Fibre Communications announced the appointment of John Schofield as president and chief executive of the networking equipment firm, taking over for founder and chairman Don Green, who stepped in as acting chief executive. The move comes amid fluctuations in the company's stock performance due to rumors of an acquisition and a deal to provide equipment to a large telephone company. Schofield formerly served as an executive at ADC Telecommunications.