Cloud communications provider RingCentral is losing its President and Chief Operating officer Anand Eswaran (pictured), less than two years after he was appointed in January 2020.
When appointed, we were told he was responsible for leadership and execution across products, engineering, sales, marketing, services, customer care, operations and human resources. He was previously Corporate Vice President for Microsoft’s Global Enterprise Business.
He is leaving to become the CEO of a “late-stage private company” with “over a billion dollars in annual recurring revenue”, said Eswaran.
The company in question is in a segment that is “not competitive” with RingCentral, he added. So far, RingCentral has not named a replacement for Eswaran.
“I would like to thank Anand for his contributions to RingCentral over the last two years,” said Vlad Shmunis, RingCentral Founder, Chairman and CEO.
“We are happy for the next chapter in his career and wish him good luck on all fronts.”
As Eswaran announced his departure, the company also promoted Vaibhav Agarwal to the role of Interim Chief Financial Officer after five years with the company. He was previously Chief Accounting Officer, and will take up his new role on 1 January 2022.
On the back of the staffing news, RingCentral said it remained “very confident” with its previously issued guidance of $1.580bn to $1.581bn of total revenue for the full year of 2021, which would represent 33 percent to 34 percent of annual growth.
Last month, RingCentral launched a bring-your-own-carrier (BYOC) offering, that allows businesses to plug telephony from third-party providers into its Message Video Phone (MVP) platform. This will give businesses extra choice as they plot their move to the cloud, while still allowing them to use the features in RingCentral’s collaboration solution, said the vendor.
Also in November, RingCentral became Mitel’s “exclusive UCaaS partner” after the pair announced a new alliance. The deal sees Mitel nudge its 35m users towards RingCentral’s MVP platform, and Mitel’s private equity backers are investing $200m in RingCentral as part of the deal.
