Tellabs Loses a CFO; Westell Gains One

Naperville, Ill.-based Tellabs (UNKNOWN: TLAB.DL  ) is about to lose a CFO, and neighboring Aurora, Ill.-based Westell Technologies (NASDAQ: WSTL  ) is gaining one.

According to Tellabs, "acting" Chief Financial Officer Tom Minichiello is resigning from the company on July 12 to become the permanent CFO of Westell. Tellabs said in a statement that it is already searching for a replacement.

As for Westell, at the same time as it announced its new hire, the company made a filing with the SEC detailing the compensation it intends to pay Minichiello. In addition to a $300,000 annual base salary, Minichiello will receive:

  • An annual bonus targeting 60% of his base salary.
  • 250,000 restricted stock units vesting over four years.
  • 90,000 stock options, likewise vesting over four years.
  • Performance stock units targeted at 40,000, but ranging in size from 0% to 200% of that number, depending on how Westell performs during Minichiello's tenure from 2014 to 2017.

Westell noted further than Minichiello will officially become its new CFO on July 16.

Read/Post Comments (1) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

  • Report this Comment On July 09, 2013, at 10:00 AM, Peter405 wrote:

    Love your headlins:


    Tellabs Loses a CFO; Westell Gains One "

    I would have preferred: TLAB loses a high overhead parasite; Westell Gains One"

    There are atleast another 10 highly paid slackers at cash rich, technology rich TLAB; hope Westell picks them up to. These parasites is what is holding this stock way under book value. Which is why Marty Whitman's Third Ave Fund is such a large holder.

    Buy Low and Sell High is his value based mantra.

Add your comment.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2516496, ~/Articles/ArticleHandler.aspx, 8/25/2016 11:22:47 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,490.90 9.42 0.05%
S&P 500 2,178.10 2.66 0.12%
NASD 5,225.47 7.78 0.15%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

12/31/1969 7:00 PM
TLAB.DL $0.00 Down +0.00 +0.00%
Tellabs CAPS Rating: No stars
WSTL $0.57 Up +0.00 +0.71%
Westell Technologi… CAPS Rating: No stars