Polycom, Inc. (Nasdaq:PLCM) today announced it has eliminated the position of Chief Operating Officer to better streamline the organization and continue its focus on driving operating performance. As a result, Eric Brown will leave the company to pursue other opportunities. Mr. Brown joined Polycom in February 2012 as Chief Operating Officer, Chief Financial Officer and Executive Vice President. The company’s Chief Accounting Officer, Laura Durr, has been appointed Interim Chief Financial Officer effective immediately and will serve in that role while Polycom conducts an executive search for a new Chief Financial Officer. The Operations and Services functions will now report directly to Peter Leav, President, and Chief Executive Officer. This announcement is not a reflection of any accounting or financial concerns at the Company.
Laura Durr, new Interim CFO at Polycom (Photo: Business Wire)
“Increasing operating margins remains the number one financial priority for Polycom in 2014. After careful review of the needs of the organization, we have streamlined the accounting, finance, services and operations functions in order to better focus on driving operating margin improvement,” said Leav. “We thank Eric Brown for his service to Polycom. Laura Durr is a ten-year veteran of Polycom and a seasoned financial executive, so we expect a smooth transition.”
Durr joined Polycom in 2004 and has served as Chief Accounting Officer since 2005. In her new role as Interim CFO, Durr will report directly to Leav. Prior to joining Polycom, Durr held executive positions in Finance and Administration at QuickSilver Technology, C Speed Corporation and Lucent Technologies. She spent six years at Price Waterhouse LLP and is a certified public accountant with a B.S. in Accounting from San Jose State University.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts