Avaya has appointed Alan Masarek as the new President and CEO of the company, replacing Jim Chirico.
Chirico is stepping down Monday after nearly 15 years of service.
This change in the C-suite leadership might have been influenced by recent underperformance, since the company also announced cost-cutting measures to generate $225 million and $250 million in annual cost reductions, starting in Q1 of fiscal 2023.
According to preliminary Q3 fiscal 2022 financial results, the company missed guidance by $125m.
Avaya hopes to get back on track with Masarek taking the helm.
Former CEO and Board Director of Vonage, Masarek brings over 30 years of experience in enterprise communications, information technology and business services as an industry innovator.
Before his time at Vonage, he served as Director, Chrome & Apps at Google, after the tech giant acquired Masarek’s company Quickoffice.
Alan Masarek will also become a member of Avaya’s Board of Directors.
He said: “Avaya benefits from an industry-leading brand, world-class customer base and global reach, rich history of innovation and strong partner ecosystem. I look forward to leveraging my background and years of cloud communications experience to propel Avaya to renewed growth and profitability as we build on the company’s strong fundamentals.
“At the same time, I intend to undertake a comprehensive strategic and operating review of all facets of the business with the goal of delivering industry-leading solutions to our global customers and enhancing value for all stakeholders”,
In the last quarter, the company suffered a three percent revenue dip in sales from the same quarter last year.
