RingCentral CEO Transition and New CFO Appointment
Ticker: RNG · Form: 8-K · Filed: Sep 3, 2024 · CIK: 1384905
| Field | Detail |
|---|---|
| Company | Ringcentral, Inc. (RNG) |
| Form Type | 8-K |
| Filed Date | Sep 3, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: leadership-change, executive-appointment, cfo-appointment
Related Tickers: RNG
TL;DR
RingCentral gets a new CEO (Tarek Robbiati) and CFO (David Berman) as Vlad Shmunis moves to Executive Chairman.
AI Summary
RingCentral, Inc. announced on August 27, 2024, changes in its executive team and board of directors. Vlad Shmunis has transitioned from CEO to Executive Chairman, and Tarek Robbiati has been appointed as the new Chief Executive Officer. Additionally, David Berman has been appointed as Chief Financial Officer.
Why It Matters
This filing indicates significant leadership changes at RingCentral, including a new CEO and CFO, which could impact the company's strategic direction and operational execution.
Risk Assessment
Risk Level: medium — Leadership transitions, especially at the CEO level, can introduce uncertainty and affect strategic execution, warranting a medium risk assessment.
Key Players & Entities
- RingCentral, Inc. (company) — Registrant
- Vlad Shmunis (person) — Former CEO, now Executive Chairman
- Tarek Robbiati (person) — New Chief Executive Officer
- David Berman (person) — New Chief Financial Officer
- August 27, 2024 (date) — Date of earliest event reported
FAQ
Who has been appointed as the new CEO of RingCentral?
Tarek Robbiati has been appointed as the new Chief Executive Officer.
What is Vlad Shmunis's new role?
Vlad Shmunis has transitioned from CEO to Executive Chairman.
Who is the new Chief Financial Officer?
David Berman has been appointed as the new Chief Financial Officer.
What is the date of the earliest event reported in this filing?
The date of the earliest event reported is August 27, 2024.
In which state was RingCentral, Inc. incorporated?
RingCentral, Inc. was incorporated in Delaware.
Filing Stats: 850 words · 3 min read · ~3 pages · Grade level 12.3 · Accepted 2024-09-03 16:34:01
Key Financial Figures
- $0.0001 — RNG New York Stock Exchange par value $0.0001 Indicate by check mark whether the re
Filing Documents
- rng-20240827.htm (8-K) — 29KB
- rng-20240903x8kxex991.htm (EX-99.1) — 10KB
- ringcentrallogocolor.jpg (GRAPHIC) — 12KB
- 0001384905-24-000051.txt ( ) — 181KB
- rng-20240827.xsd (EX-101.SCH) — 2KB
- rng-20240827_lab.xml (EX-101.LAB) — 21KB
- rng-20240827_pre.xml (EX-101.PRE) — 12KB
- rng-20240827_htm.xml (XML) — 3KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. There are no changes to the Company's outlook as previously issued in its Q2 earnings on August 1, 2024 . A copy of the press release issued by the Company on September 3, 2024 announcing Ms. Parekh's resignation and the Company's expectations regarding its financial performance is attached hereto as Exhibit 99.1 . The information furnished under Item 7.01 on this Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release issued by RingCentral, Inc., dated September 3, 2024. 104 Cover Page Interactive Data File (formatted as Inline XBRL).
Forward-Looking Statements
Forward-Looking Statements This Current Report on Form 8-K contains "forward-looking statements," including but not limited to, statements regarding our future financial results, our GAAP and non-GAAP guidance and changes to the Company's leadership structure and the timing and benefits thereof. Forward-looking statements are subject to known and unknown risks and uncertainties, and are based on assumptions that may prove to be incorrect, which could cause actual results to differ materially from those expected or implied by the forward-looking statements. Refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our most recent Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, and in other filings we make with the Securities and Exchange Commission from time to time. All forward-looking statements in this Current Report on Form 8-K are based on information available to the Company as of the date hereof, and we undertake no obligation to update these forward-looking statements, to review or confirm analysts' expectations, or to provide interim reports or updates on the progress of the current financial quarter. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RINGCENTRAL, INC. Date: September 3, 2024 By: /s/ John Marlow Name: John Marlow Title: Chief Administrative Officer and General Counsel