- Push-out Score determined
- After about five years in the position
- Thanks and good wishes for Chirico
- Alan Masarek taking over
(exechange) — Raleigh-Durham, North Carolina, July 28, 2022 — Jim Chirico, chief executive of Avaya, leaves. As announced by Avaya Holdings Corp. in a news release on Thursday, July 28, 2022, James M. (Jim) Chirico leaves his post as chief executive officer at the provider of cloud communications products, after about five years in the role, effective August 1, 2022.
Jim Chirico’s duties as CEO will be taken over by Alan Masarek, most recently Chief Executive Officer at Vonage Holdings Corp.
The fact that Jim Chirico’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.
“A proven transformational leader”
Avaya did not give an explicit reason for Jim Chirico’s departure from the CEO post. Bill Watkins, Chairman of Avaya’s Board, said: “Alan is a proven transformational leader, and after a rigorous search process, the Board is confident that Alan is the ideal choice to lead the company into the future.”
Precise information regarding Jim Chirico’s future plans was not immediately available.
“Removed”
Avaya said: “Mr. Masarek will succeed Jim Chirico, who will be removed from his positions as President and CEO of Avaya, effective August 1, 2022, and is resigning as a member of Avaya’s Board.”
Share price decline since July 2021
The announcement follows a decline in Avaya Holdings Corp.’s share price of 92% since July 2021.
In the position of CEO since 2017
Jim Chirico became CEO of the Company in 2017.
Chirico will remain employed with Avaya through August 16, 2022 and will work with Masarek to ensure a smooth transition for all stakeholders.
Chirico has been the Company’s President and Chief Executive Officer since October 1, 2017 and a member of the Company’s Board since December 15, 2017.
Prior to that, from September 1, 2016 through September 30, 2017, he served as the Company’s Executive Vice President and Chief Operating Officer and was also named Head of Global Sales in November 2016.
Previously he served as the Company’s Executive Vice President, Business Operations and Chief Restructuring Officer from June 14, 2010 through August 31, 2016. He served as President, Operations from January 2008 until June 14, 2010 and was appointed Chief Restructuring Officer on February 3, 2009.
Prior to joining Avaya, from February 1998 to November 2007, Chirico held various senior management positions at Seagate Technology, a designer, manufacturer and marketer of hard disc drives, including Executive Vice President, Global Disc Storage Operations, from February 2006 until November 2007, and Senior Vice President and General Manager, Asia Operations, from September 2000 to February 2006.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Jim Chirico’s move on a scale of 0 to 10.
exechange reached out to Avaya and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 31.2022 ($).