NAPERVILLE, Ill., May 1, 2013 /PRNewswire/ -- The Tellabs Board of Directors has elected Vincent H. Tobkin as chairman of the Board of Directors of Tellabs. He succeeds Michael J. Birck, Tellabs' co-founder and chairman, who retired effective as of the end of the Annual Stockholder Meeting today.
Tobkin has served as a Tellabs director since 2010. He was a senior advisor, retired director and global telecom/technology practice leader of Bain & Company from 1992 to 2009, general partner and founder of Sierra Ventures from 1984 to 1992, and a partner and consultant with McKinsey and Company from 1976 to 1984. A photo of Tobkin is available here.
At the Tellabs Annual Stockholder Meeting, stockholders elected Class III directors Alex Mashinsky, Gregory J. Rossmann, Vincent H. Tobkin and Mikel H. Williams to serve as Tellabs directors through 2016. Mashinsky is a new Tellabs director. Biographies of Tellabs directors are available here.
A proposal to declassify the Tellabs Board did not gain sufficient votes to pass.Stockholders:
- Approved, on an advisory basis, Tellabs' named executive officer compensation.
- Reapproved performance criteria for compensation under Tellabs' Amended & Restated 2004 Incentive Compensation Plan.
- Ratified Ernst & Young as Tellabs' independent auditor for 2013.