Cloud communications provider 8x8 has announced that its interim CEO since November will now lead the company into its next phase of growth.
Samuel Wilson, current interim CEO is now permanently at the helm and a member of the company's board of directors, effective May 26, 8x8 announced on Wednesday.
The decision to appoint Wilson as CEO followed an "extensive search" for the next CEO by the 8x8 board, the company said. 8x8's former CEO, Dave Snipes, was terminated in November by the company's board.
According to a regulatory filing, Wilson will be paid $500,000 per year and is eligible for a target cash bonus of 100 per cent of his annual base salary and an award of restricted stock units, representing the right to acquire shares of the company's common stock valued at $2.475m, among other benefits.
"I am honoured and thrilled to accept the role of CEO at 8x8," Wilson said in a statement. "We have an exceptional team, a remarkable product portfolio, a relentless focus on innovation, mixed with a commitment to exceptional customer service.
"I am excited about the opportunity to lead 8x8 into its next chapter, driving growth and delivering unparalleled value to our customers around the world."
8x8 said that under the guidance of Wilson, the UCaaS specialist will continue to expand its integrated contact centre and unified communications XCaaS platform. Wilson will be charged with directing the company toward new opportunities for growth and market leadership, 8x8 said.
Wilson has more than 25 years of executive experience in the technology sector, including experience in cloud-based communications, collaboration platforms and enterprise software solutions.
Prior to his role as interim CEO for 8x8, he served as the company's CFO and oversaw the company's acquisition of Fuze. A 8x8 veteran of more than five years, Wilson has also held multiple leadership positions within the company in addition to CFO and CEO, including chief customer officer and managing director of EMEA, and senior vice president of SMB and ecommerce.
Prior to his time with 8x8, Wilson founded and led Taos Global Investors for more than 12 years.
The Campbell, California-based company in January announced a workforce reduction impacting about seven percent of its staff globally.
The layoffs impacted 8x8's channel leadership team at the time. While the company was far from the only UCaaS provider that has conducted layoffs this year, the job cuts came on the heels of reports in 2022 that said cloud communications competitor RingCentral was evaluating a deal to buy 8x8.
8x8 said the job cuts that were announced at the beginning of the year are expected to be "substantially completed" by the end of its 2024 fiscal first quarter, which ends June 30.
