Otelco Inc. announced that Michael D. Weaver, Chief Executive Officer and a director of Otelco, will retire on December 31, 2014. Coincident with Mr. Weaver's retirement, the Board of Directors of the company has appointed Robert J. Souza, currently President of Otelco, to the additional position of Chief Executive Officer. Mr. Souza was also elected to the Board of Directors effective with Mr. Weaver's retirement.

Mr. Weaver will serve as a consultant to the company for one year to ensure a smooth transition.