Tellabs CFO Jumps Ship

Tellabs Inc. (Nasdaq: TLAB; Frankfurt: BTLA) Chief Financial Officer Joan E. Ryan has resigned to take another job, leaving the company without a replacement (see Tellabs CFO Resigns).

The company's press statement, issued late this afternoon, follows an earlier report by Light Reading.

Ryan is leaving to become CFO at SIRVA Corp., which offers corporations relocation and logistics services. Before joining Tellabs in 2000, she was senior vice president and CFO of Alliant Foodservice Inc. of Deerfield, Ill. From 1995 to 1998, Ryan served as vice president, finance, and CFO of Ameritech Small Business Services.

A Tellabs spokesperson says Ryan's departure is strictly a matter of her wish to take the new post, and today's public statement contains praise for her work from Tellabs CEO Michael Birck. Still, it's usually not well received when a CFO departs from a public company. What's more, Ryan is leaving before her post is filled.

Tellabs has begun its internal and external search for the right candidate, a spokesperson says, but until one is found, Michael Smiley, Tellabs' treasurer and VP of international finance, will act as interim CFO. No specific time limit's been set on the duration of the search.

Separately, Light Reading is following a rumor that Tellabs is looking to expand its ongoing OEM relationship with White Rock Networks, including a possible investment. We'll follow up on this story when more information becomes available.

— R. Scott Raynovich, US Editor, and Mary Jander, Senior Editor, Light Reading
gea 12/5/2012 | 12:43:32 AM
re: Tellabs CFO Jumps Ship While I was at Tellabs the persistent scuttlebutt was that Joan Ryan wanted to see Tellabs get bought by some other big vendor that wanted our customer base.
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