Polycom CEO Andy Miller Resigns
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Andy Miller has resigned as CEO of the unified communications vendor after irregularities were found in his expense submissions. Miller had been the CEO of Polycom since May of 2010. Miller's resignation was made public as the company he is leaving reports its second quarter fiscal 2013 earnings.
"While this situation is certainly disappointing, it should not be viewed as a reflection of the financial integrity of the company or the integrity of our nearly 4,000 employees worldwide," Polycom's Chairman and interim CEO, Mr. Kevin Parker said during Polycom's earnings call. "I can assure you the board's continuing commitment to the Polycom strategy and to our customers, partners and employees."
For the quarter, Polycom reported revenue of $345 million, which is a 4 percent year-over-year decline. Moving forward, Polycom provided third quarter guidance for revenue ranging from $330 million to $340 million.