Andrew Miller’s resignation casts a pall over an otherwise positive earnings announcement
Former Polycom CEO Andrew Miller
Teleconferencing hardware firm Polycom Inc. confirmed Tuesday ithat CEO Andrew Miller had resigned last week amid allegations of “irregularities” in his expense report filings.
The company said the amounts involved did not materially affect the financial results, and that no other employees were involved.
“Andy Miller’s resignation under these circumstances is 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,” Parker said in a prepared statement.
The 53-year-old Miller became CEO and president of Polycom in May 2010, after serving almost a year as executive vice-president of global field operations, according to Business Week.
The company’s second quarter revenue was $345 million, down 3.7 per cent year over year, but beating the Zacks Consensus Estimate of $342 million.Related Download
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