- Push-out Score determined
- After about six years in the position
- Praise, thanks and good wishes for Masarek
- Rory Read taking over
- Masarek spoke at length and said 151 words
(exechange) — Holmdel, New Jersey, June 8, 2020 — Alan Masarek, chief executive of Vonage, leaves. As announced by Vonage Holdings Corp. in a news release and in a regulatory filing published on Monday, June 8, 2020, Alan Masarek leaves his post as chief executive officer at the cloud communications provider after about six years in the role, effective July 1, 2020.
Alan Masarek’s duties as CEO will be taken over by Rory Read, most recently Chief Operating Executive of Dell Technologies Inc.
The fact that Alan Masarek’s successor is brought in from outside suggests that the board may seek to stimulate change with fresh ideas and new initiatives.
In general, an outsider does not have the constraints of an insider when it comes to leading painful changes or making unpopular decisions.
“This is the right moment for transition”
Alan Masarek’s departure from the CEO post is explained as follows. Masarek said: “The Board selected Rory after a thorough process. This is the right moment for transition, and Rory is the right leader to take us forward.”
Precise information regarding Alan Masarek’s future plans was not immediately available.
Vonage said: “Mr. Read will succeed Alan Masarek, who will be stepping down as Chief Executive Officer and a member of the Board of Directors. Mr. Masarek will work closely with Mr. Read to assist in the transition.”
Share price increase since November 2014
The announcement follows an increase in Vonage Holdings Corp.’s share price of 220% since November 2014.
Chaired by Jeffrey Citron
Vonage Holdings Corp. is chaired by Jeffrey Citron.
Jeffrey Citron has been the Chairman of the Board since January 2001. Citron was also the Chief Executive Officer from January 2001 through February 2006.
In the position of CEO since 2014
Alan Masarek became CEO of the Company in 2014.
Alan Masarek joined Vonage as the Chief Executive Officer and a member of the Board of Directors in November 2014.
Since then, Masarek has ushered in an era of transformation for Vonage, driving the company’s rapid growth and evolution from a residential home phone provider into a global business cloud communications leader.
Through a series of strategic acquisitions, coupled with fast, organic growth and internal technology development, Masarek has created a culture of agility, technology innovation and customer centricity.
An innovator with deep experience in mobile, SMB and Enterprise sectors, Masarek came to Vonage from Google, Inc., where he was Director, Chrome & Apps from June 2012 until October 2014, following the acquisition of his prior company, Quickoffice, Inc.
Masarek was the Co-founder of Quickoffice, Inc., one of the world’s most widely recognized mobile brands, and served as its Chief Executive Officer from July 2007 until June 2012.
Under his leadership, Quickoffice became the world’s most widely embedded mobile productivity software, with a top-grossing iPad app and a top 10 grossing app in the Google Play Store, engaging more than 26 million registered users at the time of Google’s purchase.
Masarek earned his M.B.A., with Distinction, from Harvard Business School and his B.B.A., Magna Cum Laude, from the University of Georgia.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding the management change on a scale of 0 to 10.
exechange reached out to Vonage and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 24.2020 ($).