Another CEO exit form a leading global brand, and its not because of business performance. This time the reason for exit is alleged irregularities in expense report submissions. While the concerned irregularities does not in any way impact the businesses financials or the company’s reputation in the market, it was a good enough reason for the CEO to separate.
The discovery of irregularities by the audit committee led to the resignation of Andrew Miller, President & CEO of Polycom. Miller has taken responsibility for the irregularities and has also resigned from the board chair. He had joined the company in 2009, and had taken up the CEO’s role in 2010.
Kevin Parker has been named interim CEO. Kevin had joined Polycom’s Board of Directors in January 2005 and was appointed Chairman of the Board in May 2013. He is also a Co-founder and Managing Principal at Bridge Growth Partners, LLC.