Cloud communications specialist 8x8 has named former RingCentral COO Dave Sipes as Chief Executive Officer and member of the board of directors, effective immediately.
Sipes was most recently COO of RingCentral, where he led go-to-market, product, and engineering and was instrumental in the 12-year growth trajectory of the company from $10M to over $1B in revenue.
Former 8x8 CEO Vik Verma will assist the transition in an advisory role after leading the company for seven years—through both a product and business model transformation—and building an over $500M SaaS business, adding more than $1.5B in market capitalization. Jaswinder Pal Singh will become 8x8’s Chairman of the Board. Singh replaces former chairman Bryan Martin, who will continue to serve on the 8x8 board. Vik Verma has retired from the board of directors.
“8x8 is participating in one of the biggest SaaS markets today, cloud communications. We believe Dave, with his operational expertise, strong industry background, and world-class go-to-market leadership, is the right leader at the right time to fully realize our potential,” stated Jaswinder Pal Singh, 8x8 Chairman of the Board. “We're thrilled to have Dave take the helm at 8x8 and are excited about our future. I’d also like to thank Vik Verma, on behalf of the board of directors, our 1,700+ team members and thousands of dedicated resellers, and recognize the incredible contributions and leadership role he has played over the past seven years to get us to this point.”
“I am looking forward to leading 8x8. It’s one of a select SaaS businesses to reach half a billion dollars in revenue with a strong and expanding customer base,” said Dave Sipes. “The cloud and work-from-home are transforming business communications for every employee and customer touchpoint, and have become a critical focal point for building competitive advantage for businesses today. 8x8 is well positioned with its Open Communications Platform™, which provides a wide breadth of integrated communication tools to power businesses’ critical cloud communications needs. This company has the opportunity to be central to the transformation of work.”
The company is reaffirming its guidance for the third quarter of fiscal 2021 ending December 31, 2020 and the full-year fiscal 2021 ending March 31,2021, that was previously provided on October 28, 2020.
