Summary
Teradyne, Inc. (TER) filed an 8-K on February 29, 2008, announcing a key change in its accounting leadership. Daniel Tempesta resigned from his position as Corporate Controller and principal accounting officer, effective the same day, to pursue an opportunity with another public company. This departure marks a transition in the company's financial reporting oversight. In response to Mr. Tempesta's resignation, Teradyne's Board of Directors appointed Gregory R. Beecher as the new principal accounting officer, effective March 1, 2008. Mr. Beecher already holds the roles of Vice President, Chief Financial Officer, and Treasurer, and will assume these additional responsibilities without any change in his compensation. Investors should note that information regarding Mr. Beecher's experience and compensation is available in Teradyne's previously filed Form 10-K for the fiscal year ended December 31, 2007.
Key Highlights
- 1Daniel Tempesta resigned as Teradyne's Corporate Controller and principal accounting officer, effective February 29, 2008.
- 2Mr. Tempesta is leaving Teradyne to accept a Vice President of Finance role at another public company.
- 3Gregory R. Beecher has been appointed as Teradyne's principal accounting officer, effective March 1, 2008.
- 4Mr. Beecher will continue to serve as Teradyne's CFO, Treasurer, and VP.
- 5No additional compensation will be provided to Mr. Beecher for his new role as principal accounting officer.
- 6Information on Mr. Beecher's background and compensation is available in Teradyne's FY2007 10-K filing.