Polycom CEO resigns after expense-report scandal

Andrew Miller left Friday after the company found irregularities in his expense reports

Videoconferencing is advertised as a tool to reduce travel expenses, but for the CEO of one of the biggest companies in the business, apparently that wasn't enough.

Polycom President and CEO Andrew Miller has resigned after the audit committee of the company's board found irregularities in his expense-report submissions. He quit Friday, and Polycom announced his departure in its second-quarter earnings announcement Tuesday. Kevin Parker, a managing principal at Bridge Growth Partners and a Polycom board member since 2005, has been named interim CEO.

Miller took responsibility for the expense-report irregularities, which didn't involve any other employees, Polycom said. They weren't big enough to have a material impact on the company's current or previous financial results, according to the company. It gave no other details about the reports. Miller also gave up his seat on Polycom's board.

Miller joined the company in 2009 as executive vice president of global field operations and became CEO in 2010. Previously, he had been global president of IPC Information Systems, a financial trading communications company, and CEO of the Norwegian video system maker Tandberg, which has since been acquired by Cisco Systems.

"Andy Miller's resignation under these circumstances was disappointing and should not be viewed as a reflection of the financial integrity of the company, the strength of our team or our plans for the future," Interim CEO Parker said in a written statement in the financial press release.

Polycom's revenue in the second quarter ended June 30 fell almost 4 percent from a year earlier, to US$345.2 million, while net income fell to $5.3 million from $6.3 million.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Topics: business issues, personnel, Internet-based applications and services, Telephony/conferencing, polycom, internet
Comments are now closed.

Latest News Articles

Most Popular Articles

Follow Us

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Resources

Best Deals on GoodGearGuide

Compare & Save

Deals powered by WhistleOut
Use WhistleOut's technology to compare:
Mobile phone plans & deals
Mobile phone models
Mobile phone carriers
Broadband plans & deals
Broadband providers
Deals powered by WhistleOut
WhistleOut

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?