Telecom gear manufacturer Tekelec has named its chief financial officer, William Everett, as its acting chief executive officer as of Jan. 1.

Fred Lax, the current CEO, is leaving the company.

Everett has been leading the company’s transition team. In a statement, Tekelec said Everett is not “a candidate for permanent appointment to the position.”

Tekelec moved its headquarters to Morrisville from California. Lax chose not to relocate.