Tekelec Appoints CFO, Moves HQ

Tekelec appoints William Everett chief financial officer; moves headquarters to North Carolina

April 8, 2005

4 Min Read

CALABASAS, Calif. -- Tekelec (NASDAQ:TKLC), a leading developer of telecommunications products for next-generation fixed, mobile and packet networks, today announced that William Everett, the former chief financial officer of Steleus Group, Inc. has been named senior vice president and CFO of Tekelec.

"I am very pleased to have Bill joining the Tekelec management team as chief financial officer," said Fred Lax, Tekelec's president and CEO. "Over the past several months, we have conducted an extensive search and have evaluated numerous qualified candidates for the CFO position. Bill's previous experience as the CFO of two publicly traded companies and his extensive global finance and accounting expertise combined with his demonstrated ability to manage in a high-growth, high-tech environment, made it clear that Bill was the right person for the job."

Everett has had significant experience as both a CFO and a general manager working with a variety of multi-national technology companies during the past 20 years. Everett joined Tekelec as a result of Tekelec's acquisition of Steleus in October 2004. Recently, he has worked with Tekelec's finance and accounting team to complete the Company's evaluation of its internal controls as required by Section 404 of Sarbanes-Oxley.

At Steleus, Everett served as executive vice president and CFO and was responsible for the worldwide finance and administration functions of the Company. Prior to Steleus, Everett was vice president of finance and administration and CFO of Chemfab Corporation, a publicly traded manufacturer. Prior to joining Chemfab, Everett was the vice president of finance of Epsilon Data Management, a publicly traded database management software and services company. Everett has also held executive and senior finance positions at several high technology companies, including Eastman Software and Wang Software. Everett began his finance career at Price Waterhouse in its general audit practice in Boston. During his eight years with the firm, his assignments included working with numerous high-technology companies. Everett is a certified public accountant and has a bachelor of arts degree from Middlebury College and a master's degree in business administration from the University of New Hampshire.

Everett stated, "I am very pleased to be assuming the responsibilities of chief financial officer and am excited about joining the Tekelec management team. Having collaborated with the Company on business opportunities before the acquisition of Steleus and as an employee over the past six months, I believe the Company is very well positioned to succeed with its portfolio of next-generation switching, signaling, and value-added applications. We will focus on scaling Tekelec's financial infrastructure as we work to grow the business globally and bring the recent acquisitions to profitability."

---In a separate release---

CALABASAS, Calif. -- Tekelec (NASDAQ:TKLC - News), a leading developer of telecommunications products for next-generation fixed, mobile, digital and packet networks, today announced that it is adding key resources to its top corporate management structure.

"During the past year, our company's revenue grew more than 50 percent, we greatly expanded our global business and we completed several major acquisitions that increased our capabilities to provide integrated communications solutions for our customers on a global basis," said Fred Lax, president and CEO of Tekelec. "Similarly, we're now strengthening our strategic management and operational infrastructure as we concentrate on further expanding as a global, market-focused solutions company."

In order to increase senior executive focus to customers and the rapidly growing market opportunities for Tekelec's advanced signaling, switching and communications software solutions, Lori Craven has been appointed as executive vice president, Global Sales & Marketing and Customer Service. In addition, Rick Mace, current president and general manager of Tekelec's Communications Software Solutions Group (CSSG), is appointed executive vice president, Global Business Group Operations, also in Morrisville, NC. Mace will be focusing on the day-to-day operations of Tekelec's business groups, including manufacturing operations, that comprise Tekelec's diversified telecommunications business. Further, also coming to North Carolina from his former role leading Tekelec's French operations will be Eric Gehl, succeeding Mace as president and general manager of CSSG.

"I'm very pleased with the expanded leadership team," added Lax. "We are making the strategic decisions that give us the scale, flexibility and resources needed to sustain our global growth and success. As part of that process, we've also decided to transition Tekelec's headquarters to our North Carolina location to allow for better alignment and coordination with Tekelec's core operating groups."

The transition of Tekelec's headquarters will occur in stages over the next year as it vacates the current facility in Calabasas, Calif. where as many as 145 people had recently been employed. Over the past year, the number of Calabasas-based employees has been reduced to about 40 people as Tekelec closely aligned its manufacturing operations with its business units and expanded the use of contract manufacturing. The additional realignment will provide a significant opportunity to further improve Tekelec's operations by fully integrating the California-based finance, accounting and IT functions into the business units they support.

Tekelec Inc.

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