Acacia Research Shuffles CEO

Newport Beach-based patent licensing firm Acacia Research Corporation reported late Friday that it has shuffled its CEO. According to the company, Paul Ryan, the firm's CEO, will retire, and step down from his position and his board seat from the firm on July 31st. Ryan will be replaced by Matthew Vella, who is currently President of the company. In a statement, Acacia Research said that Ryan recently turned 68, and has been at Acacia Research for the last thirteen years. Ryan became CEO of Acacia in 1997. Vella joined Acacia in 2006, having previously served at such firms as ATI Research and Nortel Networks.