Tellabs (ticker: TLAB, exchange: NASDAQ Global Market (.O))
News Release -
Mellody Hobson Nominated to Join Tellabs' Board of DirectorsNAPERVILLE, Ill., Mar 19, 2002 /PRNewswire-FirstCall via COMTEX/ -- The Tellabs
proxy announced today that Mellody Hobson, president of Ariel Capital
Management, Inc., has been nominated to join Tellabs' board of directors.
Tellabs' stockholders will vote on Hobson's nomination at the company's Annual
Meeting of Stockholders on April 23.
(editor's note: for a photo, www.tellabs.com )
Hobson directs the marketing and client servicing effort at Ariel Capital
Management, Inc., a Chicago-based investment management firm with over $8
billion in assets under management.
"As a respected member of the investment community, Mellody will play a key role
in providing Tellabs with a strategic perspective of the overall market," said
Tellabs chairman Michael J. Birck. "Her experience will be valuable as we work
to renew our growth in a changed industry environment."
Hobson, 32, developed an interest in the investment industry after completing
summer internships at Ariel Capital Management, Inc., and T. Rowe Price
Associates. In 1991, Hobson became senior vice president and director of
marketing at Ariel Capital Management, Inc., and in 2000 she was named president
of the company. In this role, she oversees the firm's relationships with
corporate, public and non-profit institutional clients as well as the marketing
initiatives for the firm's four publicly traded mutual funds: Ariel Fund, Ariel
Appreciation Fund, Ariel Premier Growth Fund and Ariel Premier Bond Fund.
Additionally, as the firm's president, she plays a role in firm- wide management
and strategic planning.
Hobson works with a variety of civic and professional institutions, including
serving as director of the Chicago Public Library, Board Member of the Field
Museum and Board Member of Do Something. She is a regular financial contributor
on ABC's "Good Morning America." Her extensive media experience includes
spending three years as a financial reporter on WGN's "Minority Business Report"
and also regular appearances on CNN and CNNfn (financial network). In 1999,
Crain's Chicago Business named her as one of the city's young leaders in its
annual "40 Under 40" feature. In the June 1998 issue, Working Woman magazine
named her one of its "20 Under 30." In 1992, she was recognized by Ebony
magazine as one of the "30 Leaders of the Future."
Hobson is a graduate of Princeton University, where she received a bachelor of
arts degree from the Woodrow Wilson School of International Relations and Public
Upon approval of the stockholders at the annual meeting, Hobson will succeed
Brian Jackman, who is stepping down from the board after nine years. In 2001
Jackman retired from his positions as president - global systems and technology
and executive vice president of Tellabs.
"Brian has been a close friend and wise counselor to so many Tellabs people, and
to me personally," Birck said. "We wish him well in his retirement."
Jackman joined Tellabs in 1982 as director of sales and marketing from IBM,
where he held various sales and marketing positions. In 1988, he was named
senior vice president and general manager of Tellabs' Data Communications
Division. He was promoted to executive vice president-business operations in
1990, became president of Tellabs Operations Inc. in 1993, and was president,
global systems and technology from 1998 until his retirement last year.
Stephanie Pace Marshall, president of Illinois Math and Science Academy, and
William F. Souders, retired chairman and chief executive officer Emery Air
Freight Corporation, are up for reelection to the Tellabs board in 2002.
In more than 80 countries around the globe, Tellabs helps the world's leading
communications service providers build tomorrow's converged networks of voice,
data and video. Tellabs employees design, build and service optical networking,
broadband access and voice-quality enhancement equipment. Today, most telephone
calls and Internet sessions in the United States flow through equipment from
Tellabs (Nasdaq: TLAB) ( www.tellabs.com ).
Tellabs and Tellabs logo are registered trademarks in the United States and/or
other countries. All other company names and products mentioned herein may be
the property of their respective companies.
MAKE YOUR OPINION COUNT - Click Here
CONTACT: Jennifer Stiglic, +1-630-798-2505,
email@example.com , or Jean Medina, +1-630-512-8336,
firstname.lastname@example.org , both of Tellabs
Copyright (C) 2002 PR Newswire. All rights reserved.