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Short Take: Tellabs names new CEO

Former Ameritech CEO Richard Notebaert will become Tellabs CEO Aug. 18, Tellabs said, as CEO and co-founder Michael Birck becomes chairman. Notebaert, a Bell lifer with previous stints at Wisconsin Bell and Indiana Bell, left his Ameritech post last year after his company was acquired by SBC Communications. Notebaert joined the board of the optical networking company in April, receiving 500 Tellabs shares now valued at about $31,000. Terms of his employment as CEO weren't disclosed.

Former Ameritech CEO Richard Notebaert will become Tellabs CEO Aug. 18, Tellabs said, as CEO and co-founder Michael Birck becomes chairman. Notebaert, a Bell lifer with previous stints at Wisconsin Bell and Indiana Bell, left his Ameritech post last year after his company was acquired by SBC Communications. Notebaert joined the board of the optical networking company in April, receiving 500 Tellabs shares now valued at about $31,000. Terms of his employment as CEO weren't disclosed.