Why did Amy McAndrews resign as Corporate Controller?

Amy McAndrews resigned to assume a new role as Semiconductor Test Division Operations Controller. This appears to be a strategic internal move to leverage her expertise in a different area of the company.

Who replaced Amy McAndrews as Corporate Controller?

Daniel Tempesta was appointed as the new Corporate Controller and principal accounting officer, effective December 19, 2006. He has prior experience as Teradyne's Treasurer and played a key role in the company's Sarbanes-Oxley Section 404 implementation.

What is the impact of these leadership changes on the company's financial reporting or stability?

The report indicates an internal reallocation of responsibilities and a planned retirement. Daniel Tempesta's background, including SOX 404 implementation, suggests continuity and a strong understanding of financial controls. The appointment of Gregory R. Beecher as Treasurer while retaining his CFO role, without additional compensation, suggests efficiency and a stable financial leadership team.

What is the background of Daniel Tempesta?

Daniel Tempesta, 36, has a robust financial background. He previously served as Teradyne's Treasurer, was the Finance Manager for Sarbanes-Oxley Section 404 implementation, and spent over a decade at PricewaterhouseCoopers LLP, where he was a Senior Manager in the audit practice.

TER 8-K: Leadership Changes

Summary

Teradyne, Inc. (TER) filed an 8-K report on December 20, 2006, detailing significant changes in its senior accounting and financial leadership. Amy McAndrews has resigned from her role as Corporate Controller and principal accounting officer, effective December 19, 2006. She will transition to a new operational role within the Semiconductor Test Division, while Donald Hamman, whom she succeeds, will be retiring. Daniel Tempesta has been appointed as Teradyne's new Corporate Controller and principal accounting officer, also effective December 19, 2006. Mr. Tempesta brings a strong background in finance, including experience leading Sarbanes-Oxley Section 404 implementation and previous roles at PricewaterhouseCoopers. Gregory R. Beecher has been reappointed as Treasurer, a role he previously held, while continuing his duties as Vice President and Chief Financial Officer, with no change in compensation for the Treasurer position.

Key Highlights

1Amy McAndrews resigned as Corporate Controller and Principal Accounting Officer.
2Amy McAndrews will transition to the role of Semiconductor Test Division Operations Controller.
3Donald Hamman, formerly in the Semiconductor Test Division Operations Controller role, is transitioning into retirement.
4Daniel Tempesta was appointed as the new Corporate Controller and Principal Accounting Officer.
5Gregory R. Beecher was reappointed as Treasurer.
6Gregory R. Beecher will continue to serve as Vice President and Chief Financial Officer.
7Mr. Beecher will not receive additional compensation for his service as Treasurer.

TERADYNE, INC 8-K Report, Executive Changes (Dec 20, 2006)

Summary

Key Highlights

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