Bill Everett will step down from his post March 31

February 11, 2010

2 Min Read

MORRISVILLE, N.C. -- Tekelec (NASDAQ: TKLC), the IP core network signaling and mobile data management company, announced today that Bill Everett, the company's executive vice president and chief financial officer, plans to retire from the company on March 31, 2010. Mr. Everett will serve as a consultant and be available to the company for a period of several quarters following his retirement in order to facilitate the transition of his duties and responsibilities to his successor and to perform work on other projects.

Mr. Everett joined Tekelec in 2004, when Tekelec acquired Steleus Group Inc., and served as chief financial officer since April 2005.

"I have greatly enjoyed the past five years as CFO with Tekelec and am extremely proud of our accomplishments," said Mr. Everett. "I will remain fully engaged as CFO through the end of March and am committed to ensuring a smooth transition to my successor."

"Bill is a respected leader and trusted colleague and over the past years has greatly contributed to Tekelec's ongoing success," said Frank Plastina, Tekelec's president and chief executive officer. "Although I will miss our day-to-day interaction, I am grateful that we will be able to continue to tap into his knowledge and experience on a consultative basis. Finally, we wish Bill all the best in his retirement and sincerely thank him for all his contributions."

The company has commenced a search for a successor to Mr. Everett, will consider both internal and external candidates, and expects to complete its search within 90 days. Greg Rush, who is currently the company's vice president, corporate controller and chief accounting officer, will assume the additional position of interim chief financial officer on March 31, 2010 and will serve in that position until Mr. Everett's successor is appointed. Mr. Rush joined Tekelec as vice president and corporate controller in May 2005 and became vice president, corporate controller and chief accounting officer in May 2006.

Tekelec

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