06.08.2007 20:41:00
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Tekelec Announces Departure of Senior Executive; Grants Equity Incentives to New Employees
Tekelec (NASDAQ: TKLC), a leading developer of high-performance network
applications for next-generation fixed, mobile and packet networks,
today stated that Richard E. Mace, Executive Vice President,
Global Business Group Solutions, will be leaving the Company effective
September 1, 2007. The Company does not anticipate refilling Mr. Mace’s
position.
Rick Mace joined Tekelec in October 2004 following the acquisition of
Steleus, where he served as President, CEO and Chairman of the Board.
Before being appointed Executive Vice President, Mr. Mace was President
and General Manager of Tekelec's Communications Software Solutions
Group. Prior to joining Steleus in May 2000, Mr. Mace was President &
CEO of PakNetX Corp., a privately held developer of next-generation
telecommunications switching technology. He began his career at Bell
Atlantic, where during his 22 year tenure he founded and managed their
Advanced Networking Group as well as one of the industry's most
successful network integration businesses.
Frank Plastina, President and Chief Executive Officer of Tekelec, said, "We
appreciate the substantial contribution that Rick has made over the
years since joining us with the Steleus acquisition. We wish him well in
his new endeavors."
Tekelec also announced that on August 3, 2007, the Company awarded a
total of 4,000 restricted stock units ("RSUs") to two employees who had
commenced their employment with the Company between July 4, 2007 and the
award date. The awards were made under Tekelec's Amended and Restated
2004 Equity Incentive Plan for New Employees in reliance on the
"employment inducement" exception to the Nasdaq rules requiring
shareholder approval of equity-based incentive plans. The RSUs vest in
installments over four years.
About Tekelec
Tekelec is a high-performance network applications company that is
accelerating the transition to IP Multimedia Subsystem (IMS) networks
for service providers around the globe. With its experience at the
intersection of network applications and session control, Tekelec
creates highly efficient platforms for managing media and delivering
network solutions. Corporate headquarters are in Morrisville, N.C.,
U.S.A., in the Research Triangle Park area, with research and
development facilities and sales offices throughout the world. For more
information, please visit www.tekelec.com.
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