Ed Kennedy Leaving Tellabs

NAPERVILLE, Ill. -- Tellabs (NASDAQ:TLAB) announced that Edward H. Kennedy, 49, president-Tellabs North America, has withdrawn his candidacy for Tellabs' CEO position and resigned from Tellabs effective Jan. 30 for personal reasons. Michael J. Birck, Tellabs chairman and CEO, will resume direct leadership of Tellabs' North American operations on Jan. 19. "We appreciate Ed Kennedy's contributions to Tellabs, and Ed is working closely with me to ensure a smooth transition for our employees and customers," Birck said. "Meanwhile, our CEO search is making good progress and we remain on track for a selection by April." Kennedy has served as president-Tellabs North America since March 2003. He joined Tellabs as a result of Tellabs' 2002 acquisition of Virginia-based Ocular Networks, where he was founder, president and CEO. "After long and careful consideration, it's best for my family that we remain in the Washington, D.C., area," Kennedy said. "I'm confident that Tellabs has grown stronger over the past year, and the company's future success is driven by sound strategy, solid next-generation products, and strong customer relationships with industry leaders." Tellabs Inc.