The founder and former CEO of RingCentral, Vlad Shmunis, is returning to the company following the surprising exit of Tarek Robbiati.
RingCentral had announced that Tarek Robbiati would become the new chief in August 2023.
In a statement, the company said that Robbiati’s resignation was not due to any disagreement with the company or the Board of Directors or any matter related to the company’s operations, policies or practices.
Rob Theis, RingCentral’s lead independent director, said: “RingCentral’s strategic product vision and operations are closely aligned and linked. We have concluded that it is best to have one executive oversee all aspects of the business organisation.
“As RingCentral’s founder and long-time CEO, Shmunis has overseen the company’s growth from inception to a leading SaaS provider with over $2.2 billion in revenue.
“We are confident that he will be effective upon his return as CEO and will continue to create and deliver value for all of our stakeholders.
Shmunis added: “We are at a tremendous inflection point in our industry, and it is critical that our product and innovation strategy drives all that we do and is closely aligned with our go-to-market approach.
“We have a world-class team, battle-proven technology, and a clear roadmap with a large, untapped market opportunity ahead of us.
“I am fully committed to RingCentral and am confident in our ability to drive sustainable, profitable growth moving forward, rooted in our core values of trust, innovation, and partnerships.”
Robbiati commented: “I have the utmost respect for the RingCentral team. I wish the company and its people the very best. RingCentral has tremendous products, and I believe the company will continue to deliver for its customers and shareholders.”
