Polycom, Inc.

CFO Michael Kourey to Retire from Polycom

PLEASANTON, Calif. - Feb 08, 2012 : Polycom, Inc. (Nasdaq: PLCM), the global leader in standards-based unified communications (UC), today announced that Mike Kourey will be retiring from his position as executive vice president and chief financial officer of Polycom in order to pursue other opportunities, including continuing to serve on corporate boards and various charitable activities. As Polycom's seventh employee, Kourey has provided strategic financial expertise and business guidance to the company for 20 years, building a stellar financial position and reputation for Polycom. Kourey will remain with the company until March 7 to provide for a smooth transition, and he will be available as an advisor to the company through May 7, 2012. Separately, Polycom also announced it has appointed Eric Brown as the company's new chief financial officer, chief operating officer, and executive vice president effective February 21, 2012 (see related release here).

 

“I want to warmly thank Mike for his commitment to Polycom and his contributions to our success, including helping grow revenues from a standing start to $1.5 billion in 2011, with 12 sequential quarters of growth and 56 quarters of positive cash flow,” said Andy Miller, president and CEO of Polycom. “Mike has been very helpful to me and the entire Polycom team over the past 21 months since I was appointed to CEO. I wish Mike all the best in his future business and charitable endeavors, and we will always consider him a key member of the Polycom family.”

 

“I am proud of the entire Polycom team with what we have been able to accomplish in building Polycom as an undisputed global leader in video collaboration,” said Kourey. “After 20 years and, culminating with our record year in 2011, this is the perfect time for me to move to the next chapter. As a shareholder, I am confident that Polycom will continue to grow and lead in the exciting video collaboration market.”

 

Polycom announced fourth-quarter and full-year 2011 financial results on Jan. 23, 2012. The company confirms its financial results, first-quarter 2012 financial guidance and the long-term operating model given at that time.