updated 5/10/2010 2:21:19 PM ET 2010-05-10T18:21:19

Networking equipment maker Digi International Inc. said Monday its chief financial officer resigned and the company is searching for a replacement.

No explanation was offered for the sudden resignation of Subramanian Krishnan, who was also senior vice president and treasurer.

The company said corporate controller Brenda Mueller will act as the principal financial officer and principal accounting officer while it conducts a search for a new CFO.

Shares of Digi fell 31 cents, or 3.2 percent, to $9.19 in afternoon trading.

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