RingCentral Announces CFO Transition
RingCentral (NYSE: RNG) announced that CFO Sonalee Parekh will resign effective September 10, 2024, to accept a CFO role at a non-competing public company. The company has initiated a search for a successor, considering both internal and external candidates. CEO Vlad Shmunis praised Parekh's contributions, particularly in improving profitability and free cash flow. Parekh expressed gratitude for the opportunity and confidence in RingCentral's future success. The company emphasized that Parekh's departure is not due to any disagreements regarding financial results, accounting principles, or disclosures. Importantly, RingCentral's previously issued Q2 earnings outlook remains unchanged.
RingCentral (NYSE: RNG) ha annunciato che il CFO Sonalee Parekh si dimetterà, effettivo dal 10 settembre 2024, per accettare un ruolo di CFO in una società pubblica non concorrente. L'azienda ha avviato una ricerca per un successore, considerando sia candidati interni che esterni. Il CEO Vlad Shmunis ha lodato i contributi di Parekh, in particolare nel miglioramento della redditività e del flusso di cassa libero. Parekh ha espresso gratitudine per l'opportunità e fiducia nel futuro successo di RingCentral. L'azienda ha sottolineato che le dimissioni di Parekh non sono dovute a disaccordi riguardo ai risultati finanziari, ai principi contabili o alle comunicazioni. È importante notare che le previsioni sugli utili del secondo trimestre già emesse da RingCentral rimangono invariate.
RingCentral (NYSE: RNG) anunció que la CFO Sonalee Parekh renunciará a partir del 10 de septiembre de 2024, para aceptar un puesto de CFO en una empresa pública no competidora. La empresa ha iniciado la búsqueda de un sucesor, considerando tanto candidatos internos como externos. El CEO Vlad Shmunis elogió las contribuciones de Parekh, especialmente en la mejora de la rentabilidad y del flujo de caja libre. Parekh expresó su gratitud por la oportunidad y confianza en el futuro éxito de RingCentral. La empresa enfatizó que la partida de Parekh no se debe a desacuerdos sobre los resultados financieros, principios contables o revelaciones. Es importante destacar que las previsiones de ganancias del segundo trimestre previamente emitidas por RingCentral se mantienen sin cambios.
링센트럴(RingCentral, NYSE: RNG)은 CFO 소나리 파레크(Sonalee Parekh)가 2024년 9월 10일자로 사임한다고 발표했습니다, 비경쟁적인 공개 기업의 CFO 역할을 수락하기 위해서입니다. 회사는 내부 및 외부 후보자를 고려하여 후임자를 찾기 시작했습니다. CEO 블라드 슈무니스(Vlad Shmunis)는 파레크의 기여를 칭찬했습니다, 특히 수익성과 자유 현금 흐름 개선에서의 기여에 대해. 파레크는 이 기회에 감사드리며 링센트럴의 미래 성공에 대한 신뢰를 표명했습니다. 회사는 파레크의 퇴사는 재무 성과, 회계 원칙 또는 공시에 관한 어떤 불일치 때문이 아니다라고 강조했습니다. 특히, 링센트럴이 이전에 발표한 2분기 실적 전망은 변함이 없다고 전했습니다.
RingCentral (NYSE: RNG) a annoncé que le CFO Sonalee Parekh démissionnera à compter du 10 septembre 2024, pour accepter un poste de CFO dans une entreprise publique non concurrente. La société a lancé une recherche pour un successeur, en considérant à la fois des candidats internes et externes. Le CEO Vlad Shmunis a loué les contributions de Parekh, particulièrement en ce qui concerne l'amélioration de la rentabilité et des flux de trésorerie libres. Parekh a exprimé sa gratitude pour cette opportunité et sa confiance dans le succès futur de RingCentral. L'entreprise a souligné que le départ de Parekh n'est pas dû à des désaccords concernant les résultats financiers, les principes comptables ou les divulgations. Il est important de noter que les prévisions de bénéfices pour le deuxième trimestre précédemment émises par RingCentral restent inchangées.
RingCentral (NYSE: RNG) gab bekannt, dass die CFO Sonalee Parekh am 10. September 2024 zurücktritt, um eine CFO-Position in einem nicht konkurrierenden öffentlichen Unternehmen anzunehmen. Das Unternehmen hat mit der Suche nach einem Nachfolger begonnen, wobei sowohl interne als auch externe Kandidaten in Betracht gezogen werden. CEO Vlad Shmunis lobte Parekhs Beiträge, insbesondere zur Verbesserung der Rentabilität und des freien Cashflows. Parekh drückte Dankbarkeit für die Gelegenheit und Vertrauen in den zukünftigen Erfolg von RingCentral aus. Das Unternehmen betonte, dass Parekhs Weggang nicht auf Meinungsverschiedenheiten zu finanziellen Ergebnissen, Rechnungslegungsgrundsätzen oder Offenlegungen zurückzuführen sei. Wichtig ist, dass der zuvor veröffentlichte Ausblick auf die Q2-Ergebnisse von RingCentral unverändert bleibt.
- No change to the company's financial outlook
- Improved profitability and free cash flow during CFO's tenure
- Smooth transition process with search for successor initiated
- Departure of key executive (CFO)
- Potential disruption in financial leadership during transition period
Sonalee Parekh to Step Down as CFO effective September 10, 2024
No Change to Outlook
Vlad Shmunis, Founder, Chairman and CEO of RingCentral, said, “On behalf of the Board and our entire team, I want to thank Sonalee for her many contributions to RingCentral, particularly improved profitability and free cash flow. She has been a trusted partner, and we wish her all the best in her future endeavors.”
Parekh said, “I want to thank Vlad and the Board for the opportunity to serve in this role and am incredibly proud of what we’ve accomplished during my time here. It has been a privilege to be a part of the RingCentral team, and I am confident that the Company is well positioned for continued success.”
Parekh’s departure is not due to any disagreement with the Company or the Board regarding its financial results, accounting principles, practices or financial statement disclosures. There are no changes to the Company’s outlook as previously issued in its Q2 earnings on August 1, 2024.
About RingCentral
RingCentral is a leading provider of trusted AI communications, contact center, sales intelligence, video and hybrid event solutions. RingCentral empowers businesses with conversation intelligence and unlocks rich customer and employee interactions to provide insights and improved business outcomes. With decades of expertise in reliable and secure cloud communications, RingCentral has earned the trust of hundreds of thousands of customers and millions of users worldwide. Visit ringcentral.com to learn more.
© 2024 RingCentral, Inc. All rights reserved. RingCentral and the RingCentral logo are trademarks of RingCentral, Inc.
Forward-Looking Statements
This press release contains “forward-looking statements,” including but not limited to, statements regarding our future financial results, our GAAP and non-GAAP guidance and changes to the Company’s leadership structure and the timing and benefits thereof. Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Refer to the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time.
All forward-looking statements in this press release are based on information available to the Company as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts’ expectations, or to provide interim reports or updates on the progress of the current financial quarter.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240903022088/en/
Investor Relations Contact:
Will Wong, RingCentral
650-450-4826
ir@ringcentral.com
Media Contact:
Jennifer Caukin, RingCentral
650-561-6348
jennifer.caukin@ringcentral.com
Source: RingCentral, Inc.
FAQ
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