Nuance Communications (NUAN) CEO Ricci Enters Final Contract Extension

November 17, 2016 4:04 PM EST

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Nuance Communications, Inc. (Nasdaq: NUAN) announced that its Board of Directors has extended Nuance Chairman and CEO Paul Ricci’s employment agreement through the first half of fiscal 2018. Mr. Ricci has advised the Board that he intends to retire at the end of this term. The Board of Directors will undertake a search process to choose Mr. Ricci’s successor during the term.

“I look forward in fiscal 2017 to building upon the progress and momentum we developed in 2016,” said Paul Ricci, chairman and CEO. “In particular, I remain committed to elevating the growth of the company by enhancing our market position with a focus on customer commitments; strengthening our core technologies in voice and natural language; advancing new innovations for AI and cognitive computing; accelerating our transition to recurring revenue models; and, remaining disciplined in our costs and investments. As we look ahead to fiscal 2018, our transformation work will be substantially complete, providing a strong foundation for the next generation of leadership.”

Nuance today also announced that Bill Robbins, executive vice president, Worldwide Sales, will be leaving the company for another role and as part of a planned transition of sales responsibilities into Nuance’s four business divisions. “Bill has done a tremendous job leading our Worldwide Sales organization and preparing the company for the transition to dedicated divisional sales organizations,” Mr. Ricci added. “We are fortunate to have had Bill’s leadership. I want to thank him for his many contributions and wish him well.”

Nuance entered into an amended and restated employment agreement with Paul Ricci on November 17, 2016. Details, and a copy of the agreement, will be filed in a Current Report on Form 8-K and posted to Nuance’s Investor Relations website.

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