8x8 has confirmed that it has terminated the employment contract of Chief Executive Officer Dave Sipes with immediate effect.
In an announcement on November 30, 8x8 stated that Samuel Wilson, Chief Financial Officer, has been appointed as interim CEO by the Board.
As a result, Kevin Kraus, Senior VP of Finance, will move into the CFO role on an interim basis.
Jaswinder Pal Singh, Chairman of the Board, commented: "We appreciate Dave's leadership and contributions to the company during his tenure.
"8x8 remains committed to delivering long-term value to our stockholders.
"We have confidence in Sam’s leadership and will work closely with him and the management team to ensure that this change is seamless for our customers, partners, employees, and stockholders."
At the time of writing, it is not clear why 8x8 has moved to terminate Sipes' employment, but the company's Board has confirmed that the process to install a permanent CEO and CFO is underway.
The leadership changes come just a week after rumours circulated that RingCentral has approached 8×8 about a possible take-over.
According to an Investing.com source, RingCentral is allegedly working with an investment bank to review the implications of a potential transaction.
No reports have surfaced yet regarding 8×8's position and whether they are open to a sale.
Following the rumours, UC Today reached out to RingCentral for a comment, who said: "We (RingCentral) do(es) not comment on rumours or speculation."
Upon taking the top job at 8x8, Wilson said: "I am honoured to serve in this role alongside the talented 8x8 team.
"Since coming to 8x8 five years ago, I have been inspired by our mission and our unique ability to empower our customers through unified cloud communications.
"I am deeply appreciative to the Board for their vote of confidence.
"I know that with the support and dedication of my 8x8 colleagues around the globe, we will continue to deliver innovative solutions that delight our customers and achieve new levels of corporate performance."
In an unrelated matter to the termination of Sipes, 8x8 has confirmed that Laurence Denny has been promoted to Chief Legal Officer and Corporate Secretary following Matthew Zinn's decision to leave the company for another role.
