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

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetbusiness issuespolycompersonnelInternet-based applications and servicesTelephony/conferencing

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

Stephen Lawson

IDG News Service
Show Comments

Father’s Day Gift Guide

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Ada Chan

Dynabook Portégé X30L-G

I highly recommend the Dynabook Portégé® X30L-G notebook for everyday business use, it is a benchmark setting notebook of its generation in the lightweight category.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?