ADTRAN Inc. announced the retirement of its Chief Financial Officer, James Matthews. Mr. Matthews' retirement as Senior Vice President “Finance, Chief Financial Officer, Treasurer and Secretary of the company will be effective March 16, 2015. Mr. Matthews retirement as a Director will take effect with the company's Annual Meeting on May 13, 2015; he will not stand for reelection.

Mr. Matthews is retiring in order to spend time with his family. The company also announced that the Board has elected Michael Foliano, Senior Vice President “Global Operations, to the position of Interim Chief Financial Officer. Mr. Foliano will assume these responsibilities upon the effectiveness of Mr. Matthews' resignation and will work with Mr. Matthews in transitioning these responsibilities until and after that date.