8×8 has appointed Samuel Wilson as its new Chief Executive Offer.
Wilson had been acting as interim CEO since November 2022, stepping up to the role after 8×8 terminated the contract of then-CEO Dave Sipes with immediate effect. Wilson performed the CEO duties while the UC vendor underwent a widespread candidate search following Sipes’ departure but has now been appointed in the position permanently.
Additionally, Wilson, 8×8’s Chief Financial Officer before its interim CEO, was appointed to 8×8’s Board of Directors.
Wilson commented:
I am honored and thrilled to accept the role of CEO at 8×8. We have an exceptional team, a remarkable product portfolio, a relentless focus on innovation, mixed with a commitment to exceptional customer service. I am excited about the opportunity to lead 8×8 into its next chapter, driving growth and delivering unparalleled value to our customers around the world.”
As well as CFO, Wilson has held multiple executive positions within 8×8. He was formerly Chief Customer Officer and Managing Director of EMEA, and Senior Vice President for e-commerce, global small business and U.S. mid-market.
As CFO, 8×8 credits Wilson with playing a pivotal role in spearheading operational efficiency and strategic initiatives, including reducing generally accepted accounting principles (GAAP) net losses, a return to non-GAAP profitability, the acquisition of Fuze, and more significant investment in innovation.
As well as his track record as CFO, knowledge of the growth and expense drivers of the business, and 25 years of executive experience in the technology sector, 8×8 has said that Wilson’s success as interim CEO was a decisive factor in his appointment.
“Sam’s performance during his tenure as interim CEO has been outstanding and made him the clear choice for CEO,” added Jaswinder Pal Singh, Chairman of the Board at 8×8. “He has demonstrated remarkable leadership skills, a deep understanding of the industry, and a clear vision for the future of 8×8. He has a deep commitment to delivering shareholder value, and we have full confidence that he is the right person to lead the company into its next phase of growth and success.”
In its announcement, 8×8 states its intention to expand its integrated Contact Center and XCaaS platform under Wilson’s stewardship. Among its other plans are investments in “building its ecosystem of innovative technology and service partners to expand the portfolio of AI/ML solutions available on the XCaaS platform”.
A Solid Start to the Year for 8×8
8×8 has had a positive 2023 so far, both financially and in the innovative projects and partnerships they’ve worked on.
8×8 finished the financial year 2023 with a strong fourth quarter, with revenue growing two percent to $184.5 million. The vendor’s $250 million acquisition of Fuze began paying off, with $26.9 million of the total quarterly revenue and $111.3 million of revenue for the financial year. Their healthy financial position ensured 8×8 could continue paying off its debts, reward its shareholders, and plough money into technological innovations.
In March, 8×8 revealed it had integrated AI across its products — including OpenAI’s Whisper model — throughout its XCaaS (eXperience Communications as a Service) platform. 8×8’s Intelligent Customer Assistant, Supervisor Workspace and 8×8 Contact Centre were also integrated with AI/ML natural language tools.
There have been several intriguing business user partnerships that 8×8 has engaged in. For example, the University of Worcester deployed 8×8 XCaaS and 8×8 Voice for Microsoft Teams to help with its clearing process. 8×8 also announced a partnership with Welsh Water earlier this month, leveraging 8×8’s CPaaS service to provide the not-for-profit drinking water supplier with an advanced video communications solution.
The news of Wilson’s appointment arrives several days after 8×8’s stock price surged following an investor disclosing significant stakes in both 8×8 and RingCentral, with filings seeking business combination discussions with management. Both filings were posted last Friday, and following their postings, RingCentral and 8×8’s stocks grew by roughly 18 percent and 13 percent, respectively.
This development mirrored a rumour about a RingCentral acquisition of 8×8 last year after an unnamed Investing.com source told the financial news website that RingCentral had approached 8×8 about a potential takeover, prompting many analysts to consider the possibility.
At the time of writing, however, deal murmurs and share price hikes are predicated on inferences around the connection between Sylebra’s two filings. There was no mention of 8×8 in Sylebra’s RingCentral filing and vice versa, and it is as yet unconfirmed whether a merger or acquisition is Sylebra and Gibson’s ambition.
