Tellabs Chief Financial Officer Resigns
Published on: 20th May 2013
The Chief Financial Officer at the struggling telecoms equipment manufacturer Tellabs Andrew B. Szafran has resigned from the company citing personal reasons.
Considering the company's recent financial woes, it emphasized that the CFO's resignation was not related to Tellabs operations, financial reporting or business outlook.
Tom Minichiello, Tellabs vice president, finance and chief accounting officer, will serve as acting CFO.
The company has been slowly reducing its financial losses over the past few years largely through redundancies and other cost cutting measures.