UPDATE: Polycom (PLCM) sees downside action, down 4%

February 13, 2013 11:36 AM EST
(Updated - February 13, 2013 11:50 AM EST)

Polycom, Inc. (NASDAQ: PLCM) sees downside action. Shares fall 4%.

UPDATE: Shares continue lower - now down 7%. This morning the company disclosed that on February 11, 2013, Sudhakar Ramakrishna, President of Products and Services of Polycom, Inc., informed the Company that he will be resigning his position and leaving the Company effective March 15, 2013, because he has accepted another opportunity. Mr. Ramakrishna will remain with the Company through the Separation Date to transition his responsibilities within the organization.

The Company is also announcing the promotion of A.E. Natarajan to SVP, Worldwide Engineering, and the creation of an Office of the Chief Technology Officer. The Office of the CTO will report directly to the Company’s Chief Executive Officer and will comprise top technical strategists and well-respected leaders in the industry who are current employees of the Company, including Mr. Natarajan.

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