Polycom Names Kevin Parker as New Chairman of the Board, Scott Mercer Appointed Audit Committee Chairman
SAN JOSE, Calif. - May 16, 2013: Polycom, Inc. (Nasdaq: PLCM), the global leader in open, standards-based unified communications and collaboration (UC&C), today announced that its Board of Directors has named Kevin Parker as Chairman of the Board effective May 16, 2013. Polycom’s prior Chairman of the Board, David DeWalt, has resigned in order to avoid any potential auditor independence conflict relating to Polycom’s independent registered public accounting firm. Mr. DeWalt is affiliated with another company that may potentially enter into a commercial relationship with this public accounting firm.
Mr. Parker brings extensive experience to the role of Chairman of the Board, including over twenty years of executive level operational experience in enterprise software and services. Mr. Parker has served as an independent Director of Polycom’s Board of Directors and Chairman of the Audit Committee since 2005. Mr. Parker was Chairman, President and Chief Executive Officer of Deltek, Inc., a provider of enterprise software applications, from 2005-2012, and Chief Financial Officer of PeopleSoft, Inc. from 2000-2004.
“I look forward to working closely with President and CEO Andy Miller, the Board, and the management team as we continue the Company’s focus on innovation and growth,” said Mr. Parker. “Polycom is the global leader in open, standards-based unified communication and collaboration solutions, boasting a newly refreshed product line and a strong balance sheet.”
“I have great admiration for Andy Miller and the entire Polycom team. Polycom has an exciting future and clear strategy for continued success, and I have the utmost confidence in the company and its plans for the future,” said Mr. DeWalt.
“On behalf of the Board of Directors and the entire company, I would like to thank Dave for his eight years of leadership and service in support of Polycom,” said Andrew M. Miller, President and CEO. “Polycom recently posted a solid first quarter, and we have an excellent foundation for growth based on our new product and services portfolio.”
The Board has also named Scott Mercer to succeed Kevin Parker as Chair of Polycom’s Audit Committee. Mr. Mercer has served as an independent Director of Polycom and as a member of the Audit Committee since 2007. Mr. Mercer is an Audit Committee Financial Expert and has nearly thirty years of technology industry experience in executive level financial and operational roles, including as Chairman and CEO of Conexant Systems, Inc., CFO of Western Digital Corporation and CFO of Teralogic, Inc.
Polycom will file a supplement to its Proxy Statement for its 2013 Annual Meeting of Stockholders, filed April 19, 2013, to reflect these changes to the Board composition. The Board is also initiating a search for a new independent director.
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