Tellabs Nabs a New CFO in the Nick of Time

You have to hand it to Tellabs (NASDAQ: TLAB  ) -- they work fast.

Late last month, the networking equipment maker had to scramble when its acting chief financial officer, Tom Minichiello, announced plans to retire on July 12 to become the new CFO at Westell Technologies (NASDAQ: WSTL  ) . On Friday, though, just as the deadline was happening, Tellabs announced that it has found a replacement.

Tellabs is bringing in audit firm Crowe Horwath partner Larry Rieger to take Minichiello's old job. Strangely, though, despite praising Rieger's "deep expertise in finance, plus more than a decade of experience working with our finance team," Tellabs named him only "acting" CFO, suggesting this appointment, too, may be only temporary.

In related news, the company announced that it has promoted finance director Michael Miles to the position of chief accounting officer -- and this appointment, at least, appears to be permanent.


Read/Post Comments (0) | Recommend This Article (2)

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.

Be the first one to comment on this article.

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: 2536277, ~/Articles/ArticleHandler.aspx, 8/20/2014 1:14:41 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...


Advertisement