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8x8, Inc. (EGHT) Terminates Employment Relationship With CEO Dave Sipes

November 30, 2022 8:04 AM EST

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8x8, Inc. (NASDAQ: EGHT), a leading provider of a cloud communications platform that integrates unified communications and contact center software, today announced the following leadership changes, effective immediately:

  • Samuel C. Wilson, most recently the Company’s Chief Financial Officer, has been appointed interim Chief Executive Officer by the Board. Mr. Wilson succeeds Dave Sipes, whose employment relationship with the Company as chief executive officer has been terminated effective as of November 30, 2022.
  • Kevin Kraus, most recently the Senior Vice President of Finance at the Company, has been appointed as interim Chief Financial Officer.

The Board has initiated a process to identify a permanent Chief Executive Officer and Chief Financial Officer, which will include both internal and external candidates.

“We appreciate Dave’s leadership and contributions to the Company during his tenure,” commented Jaswinder Pal Singh, Chairman of the Board. “8x8 remains committed to delivering long-term value to our stockholders. We have confidence in Sam’s leadership and will work closely with him and the management team to ensure that this change is seamless for our customers, partners, employees, and stockholders.”

“I am honored to serve in this role alongside the talented 8x8 team,” said Samuel Wilson. “Since coming to 8x8 five years ago, I have been inspired by our mission and our unique ability to empower our customers through unified cloud communications. I am deeply appreciative to the Board for their vote of confidence. I know that with the support and dedication of my 8x8 colleagues around the globe, we will continue to deliver innovative solutions that delight our customers and achieve new levels of corporate performance.”

Separately, Laurence Denny, formerly Chief Compliance Officer, Deputy General Counsel, and Assistant Corporate Secretary, has been promoted to Chief Legal Officer and Corporate Secretary effective December 9, 2022, succeeding Matthew Zinn. Mr. Zinn has informed the Board that he is resigning, effective December 9, 2022, to accept the position of Chief Legal Officer at another publicly traded company in an unrelated industry.

No Update to Fiscal Third Quarter and Fiscal 2023 Guidance Ranges

Although the company assumes no duty to update previously issued guidance ranges, management anticipates no changes to its fiscal third quarter and fiscal 2023 previously issued guidance ranges for service revenue, total revenue and non-GAAP operating margin that were included in the company’s press release dated October 27, 2023 announcing financial results for the second fiscal quarter ended September 30, 2023, available on the investor relations website at investors.8x8.com/press-releases/default.aspx.



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