Andrew Miller Out as Polycom CEO
"Irregularities" in expense submissions led to Miller's resignation, company says; board member Kevin Parker takes over as Interim CEO.
Andrew Miller resigned as CEO of Polycom last week after the company's Audit Committee "found certain irregularities in Mr. Miller’s expense submissions, for which Mr. Miller accepted responsibility," the company announced late yesterday.
Polycom didn't offer any further details on the "irregularities," but stated that, "The amounts involved did not have a material impact on the Company's current or previously reported financial statements for any period, nor did they involve any other employees."
Miller had served as CEO for the past four years.
Kevin Parker, a Polycom board member and Managing Principal at private equity firm Bridge Growth Partners, LLC, has been named Interim CEO to replace Miller. Before going into private equity, Parker served as CEO of Deltek, which makes ERP software. He has also worked at PeopleSoft and Aspect.