8x8 Announces Executive Leadership Changes
November 30 2022 - 8:00AM
Business Wire
8x8, Inc. (NASDAQ: EGHT), a leading provider of a cloud
communications platform that integrates unified communications and
contact center software, today announced the following leadership
changes, effective immediately:
- Samuel C. Wilson, most recently the Company’s Chief Financial
Officer, has been appointed interim Chief Executive Officer by the
Board. Mr. Wilson succeeds Dave Sipes, whose employment
relationship with the Company as chief executive officer has been
terminated effective as of November 30, 2022.
- Kevin Kraus, most recently the Senior Vice President of Finance
at the Company, has been appointed as interim Chief Financial
Officer.
The Board has initiated a process to identify a permanent Chief
Executive Officer and Chief Financial Officer, which will include
both internal and external candidates.
“We appreciate Dave’s leadership and contributions to the
Company during his tenure,” commented Jaswinder Pal Singh, Chairman
of the Board. “8x8 remains committed to delivering long-term value
to our stockholders. We have confidence in Sam’s leadership and
will work closely with him and the management team to ensure that
this change is seamless for our customers, partners, employees, and
stockholders.”
“I am honored to serve in this role alongside the talented 8x8
team,” said Samuel Wilson. “Since coming to 8x8 five years ago, I
have been inspired by our mission and our unique ability to empower
our customers through unified cloud communications. I am deeply
appreciative to the Board for their vote of confidence. I know that
with the support and dedication of my 8x8 colleagues around the
globe, we will continue to deliver innovative solutions that
delight our customers and achieve new levels of corporate
performance.”
Separately, Laurence Denny, formerly Chief Compliance Officer,
Deputy General Counsel, and Assistant Corporate Secretary, has been
promoted to Chief Legal Officer and Corporate Secretary effective
December 9, 2022, succeeding Matthew Zinn. Mr. Zinn has informed
the Board that he is resigning, effective December 9, 2022, to
accept the position of Chief Legal Officer at another publicly
traded company in an unrelated industry.
No Update to Fiscal Third Quarter and Fiscal 2023 Guidance
Ranges
Although the company assumes no duty to update previously issued
guidance ranges, management anticipates no changes to its fiscal
third quarter and fiscal 2023 previously issued guidance ranges for
service revenue, total revenue and non-GAAP operating margin that
were included in the company’s press release dated October 27, 2023
announcing financial results for the second fiscal quarter ended
September 30, 2023, available on the investor relations website at
investors.8x8.com/press-releases/default.aspx.
Forward Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of 1995
and Section 21E of the Securities Exchange Act of 1934. These
statements include, without limitation, information about 8x8’s
third quarter and full fiscal year guidance. Such statements are
predictions only, and actual events or results could differ
materially from those made in any forward-looking statements due to
a number of risks and uncertainties including, but not limited to:
market acceptance of and customer demand for new or existing
services and features; competition in the markets we compete; the
impact of economic downturns on us and our customers, including the
impacts of the COVID-19 pandemic; risks related to our new secured
term loan and outstanding convertible senior notes due in 2024 and
2028; inflationary pressures and rising interest rates; and we may
not achieve our target service revenue growth, or the revenue,
earnings, operating margin or other amounts we forecast in our
guidance, for a particular quarter or for the full fiscal year. See
our "Risk Factors" in the company's reports on Forms 10-K and 10-Q,
as well as other reports that 8x8, Inc. files from time-to-time
with the Securities and Exchange Commission for a full discussion
of such risks and uncertainties. All forward-looking statements are
qualified in their entirety by this cautionary statement, and 8x8,
Inc. undertakes no obligation to update publicly any
forward-looking statement for any reason, except as required by
law, even as new information becomes available or other events
occur in the future.
About 8x8 Inc.
8x8, Inc. (NASDAQ: EGHT) is transforming the future of business
communications as a leading software as a service provider of 8x8
XCaaS™ (eXperience Communications as a Service™), an integrated
contact center, voice communications, video, chat, and SMS solution
built on one global cloud communications platform. 8x8 uniquely
eliminates the silos between unified communications as a service
(UCaaS) and contact center as a service (CCaaS) to power the
communications requirements of all employees globally as they work
together to deliver differentiated customer experiences. For
additional information, visit www.8x8.com, or follow 8x8 on
LinkedIn, Twitter and Facebook.
8x8®, 8x8 XCaaS™, eXperience Communications as a Service™,
eXperience Communications Platform™ are trademarks of 8x8, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20221130005445/en/
8x8, Inc. Contacts: Media: John Sun,
1-408-692-7054 john.sun@8x8.com
Investor Relations: Kate Patterson, 1-408-763-8175
katherine.patterson@8x8.com
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