NEW YORK — The long-time chief executive of Durham, North Carolina lighting company Cree Inc. is being replaced, the company said Friday.

Chuck Swoboda, who’s led the maker of LED bulbs and chips since 2001, said his decision to leave “follows a recent medical issue, which was resolved, and which caused me to reevaluate my priorities.”

Cree said it has begun the search for a successor, and that Swoboda will stay on until one is found.

Last month Cree reported a $99 million loss and falling sales in its fiscal third quarter, and forecast a further loss in the current quarter.

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