LoJack promotes Waters to chief executive

LoJack Corp., a Westwood company that makes vehicle-tracking devices, said today it promoted chief operating officer Ronald V. Waters III to chief executive as part of its succession plan.

Waters will take over from Richard T. Riley, who will remain with the company as the board's full-time executive chairman, the company said in a press release.

Waters will become chief executive at the start of the new year. He has served as president, chief operating office, and a board member since February 2007.

LoJack's stock fell 17 cents, or 3.4 percent, to $4.89 in morning trading on the Nasdaq Stock Market. The stock has traded from $3.21 to $16.95 over the past year. (AP)