Dish Network said on Tuesday Chief Executive Charlie Ergen has stepped down to devote more time to the company's emerging wireless business.

Erik Carlson, president and chief operating officer, will succeed Ergen as chief executive, the company said.

Carlson will continue to report to Ergen, Dish said.

The company's shares were up 1 percent at $52.16 in early trading on Tuesday.

Ergen, who co-founded Dish, has spearheaded the company's recent expansion including the launch of Sling TV and the acquisition of wireless spectrum.

Sling was launched in 2015 to counter the threat of consumers cutting their TV packages for online streaming services.

The company faces intense competition in the traditional pay-TV market and has been buying up wireless airwaves, or spectrum, in recent years.