Combs Bowing Out as Shoretel Readies Strong Quarterly ReportCombs Bowing Out as Shoretel Readies Strong Quarterly Report
CEO says he's stepping down after 6-year tenure, as company pre-announces strong growth figures ahead of next week's channel partner conference.
July 15, 2010
CEO says he's stepping down after 6-year tenure, as company pre-announces strong growth figures ahead of next week's channel partner conference.
Shoretel CEO John Combs announced in a letter to the company's channel that Shoretel has embarked on a search for a new CEO and that he'll be stepping down, after six years that saw the VOIP-era enterprise startup gain a toehold in the highly competitive IP-PBX/Unified Communications market.
Combs wrote:
As we continue to execute on our strategy plan, now is the right time for ShoreTel to transition to a new CEO to drive the Company to the next level. I am leaving ShoreTel at a great time in its lifecycle, we are gaining market share, growing our revenue both in the United States and internationally, expanding our distribution base of dedicated partners and achieving world-class customer satisfaction measure from our customers, resulting from our customer-focused resellers community and employee base.
As a proof point for Shoretel's continued strength, the company pre-announced numbers for the fourth quarter of its fiscal year, in which the company generated between $41 million-$42 million, which represents a 15% growth from FY 08 to FY 10, suggesting that Shoretel weathered the economic downturn successfully.
Combs will stay on as CEO until his successor is chosen, and he'll remain on the company's board; his place as board chairman will be taken over by Gary Daichendt, who has served on Shoretel's board since 2007. Daichendt is an industry veteran who left Cisco in 2005 to serve a brief tenure as President and Chief Operating Officer of Nortel Networks Corporation.
Shoretel teed up the numbers and the Combs transition announcement in advance of its Champions Conference for its channel partners, which takes place next week.
