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https://killexams.com/exam_list/AvayaKillexams : Avaya Announces Changes to Executive Leadership Team
RALEIGH-DURHAM, N.C.--(BUSINESS WIRE)--Avaya Holdings Corp. (NYSE: AVYA) ("Avaya" or "the Company") today announced certain changes to its executive team as the Company continues executing on its transformation to subscription and cloud-delivered services. Kieran McGrath will retire as Executive Vice President and Chief Financial Officer. Becky Roof, Managing Director at global consulting firm AlixPartners, LLP, has been appointed as interim Chief Financial Officer. These changes are effective November 9, 2022, and Mr. McGrath has agreed to continue with Avaya in an advisory capacity until December 1, 2022 to ensure a smooth transition.
Additionally, the Company announced that Shefali Shah, Executive Vice President and Chief Administrative Officer, will take on responsibilities in connection with strategic initiatives being implemented by Alan Masarek, the Company’s President and Chief Executive Officer. In connection with Ms. Shah’s assumption of these responsibilities, Vito Carnevale, the Company’s General Counsel, who oversees Avaya’s legal, compliance and security functions, will report to Mr. Masarek.
“Avaya’s transformation to subscription and cloud-delivered services is well underway, and we have made tremendous progress enhancing operating efficiency and delivering on our cost-reduction initiatives,” Mr. Masarek said. “I thank Kieran for his contributions to Avaya, including delaying his retirement to support my transition to the Company, and wish him all the best in his retirement. As we continue positioning the business for the long term, I look forward to benefitting from Becky’s expertise. We remain focused on continuing to provide our global customers with outstanding communications solutions and support, and investing in our long-range product roadmaps.”
Avaya has retained an outside executive search firm to help identify a permanent Chief Financial Officer.
About Becky Roof
Ms. Roof is a certified public accountant and seasoned financial executive with over 20 years of experience at global consulting firm AlixPartners, LLP. In her role as Managing Director, she provides advisory and C-suite interim management services to publicly traded companies and has previously served in an interim CFO capacity at a number of public and private companies.
In addition, Ms. Roof currently serves on the advisory board of Texas Wall Street Women and is a member of the United Way Women’s Initiative in Houston, Texas.
About Avaya
Businesses are built by the experiences they provide, and everyday millions of those experiences are delivered by Avaya Holdings Corp. (NYSE: AVYA). Avaya is shaping what's next for the future of work, with innovation and partnerships that deliver game-changing business benefits. Our cloud communications solutions and multi-cloud application ecosystem power personalized, intelligent, and effortless customer and employee experiences to help achieve strategic ambitions and desired outcomes. Together, we are committed to help grow your business by delivering Experiences that Matter. Learn more at http://www.avaya.com.
This release contains certain "forward-looking statements." All statements other than statements of historical fact are "forward-looking" statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward-looking terminology such as "anticipate," "believe," "continue," "could,“ "estimate," "expect," "intend," "may," "might," "our vision," "plan," "potential," "preliminary," "predict," "should," "will," or "would" or the negative thereof or other variations thereof or comparable terminology. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. These statements do not include the potential impact of any business combinations, asset acquisitions, divestitures, strategic investments or other strategic transactions completed after the date hereof. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. Risks and uncertainties that may cause these forward-looking statements to be inaccurate include, among others: the finalization of the Company's fiscal 2022 third quarter financial statements; the findings of the Audit Committee’s investigations; the effectiveness of the Company’s internal control over financial reporting and disclosure controls and procedures, and the potential for a material weaknesses in the Company’s internal controls over financial reporting or other potential weaknesses of which the Company is not currently aware or which have not been detected; the Company’s ability to continue as a going concern; the impact of litigation and regulatory proceedings; the impact and timing of any cost-savings measures; the termination or modification of current contracts which could impair attainment of our OneCloud ARR metric; the duration, severity and impact of the coronavirus pandemic ("COVID-19"); the impact of the Russia/Ukraine conflict on the global economy and our business, including impacts from related sanctions and export controls imposed by the U.S., UK and the EU on certain industries and Russian parties as a result of the conflict, as well as responses by the governments of Russia or other jurisdictions; and other factors discussed in the Company's Annual Report on Form 10-K and subsequent quarterly reports on Form 10-Q filed with the Securities and Exchange Commission (the "SEC"). These risks and uncertainties may cause the Company’s genuine results, performance, liquidity or achievements to differ materially from any future results, performance, liquidity or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company’s filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company’s SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
Sun, 06 Nov 2022 23:44:00 -0600entext/htmlhttps://www.businesswire.com/news/home/20221107005655/en/Avaya-Announces-Changes-to-Executive-Leadership-TeamKillexams : Avaya Investor Alert
New York, New York--(Newsfile Corp. - December 6, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avaya Holdings Corp. ("Avaya" or the "Company") (NYSE: AVYA).
If you suffered losses exceeding $50,000 investing in Avaya stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/AVYA.
RALEIGH-DURHAM, N.C., December 13, 2022--Avaya Holdings Corp. (NYSE: AVYA) ("Avaya" or "the Company") today publicly disclosed certain business information that it confidentially shared with certain of its financial stakeholders. This information was shared in connection with ongoing constructive discussions Avaya is having with its financial stakeholders regarding a comprehensive resolution to strengthen the Company’s balance sheet and position the business for long-term success.
Mon, 05 Dec 2022 10:00:00 -0600en-UStext/htmlhttps://finance.yahoo.com/quote/AVYA/chart/Killexams : Revamped Avaya Roadmap Orbits Around Cloud, Experience Platform
The UC giant’s updated product roadmap reflects Avaya’s plan to tap into its massive install base and pave the way for migration to the cloud or the addition of over-the-top cloud solutions that won’t “disrupt” communications infrastructure that’s already in place, the company tells CRN.
Avaya experienced a turbulent 2022 with missed revenue targets and earnings, layoffs, and a new CEO brought on to redirect the company. Now, the unified communications powerhouse is unveiling an updated and simplified product roadmap.
The company is placing a larger emphasis on the omnichannel Avaya Experience platform, the centerpiece of its cloud strategy, in a way that both addresses the market demand for all-in-one for contact center as-a-service (CCaaS) solutions, while balancing the needs of its massive install base of customers, Steve Forcum, head of Solutions Marketing for Avaya, told CRN.
“What we want to do is we want to meet our customers where they are. Experience Platform is an incredible piece of tech, but at the end of the day, moving what works in your organization to a different platform simply to add these capabilities is a lot of times a nonstarter for our customers,” he said.
The Avaya Experience Platform is the company’s “North Star” in which the rest of Avaya’s portfolio orbits, Forcum said. The goal of the platform is to empower organizations to support the touch points that occur between the business or brand and the end customers, but then weaving them into an ongoing discussion. “This is really where the magic happens,” he said. “If I’m in a discussion with a customer and they tell me that two weeks ago, they spoke to someone, I can actually go back in time [and] see who that person was talking to and pull up the transcript of what was said. This way, I can pick that conversation where and when it left off and then treat it like a relay race for the next employee that’s going to interact with this customer.”
The next step will include harvesting the data collected by the platform and turning it into actionable information for partners and end customers that go beyond simple performance metrics, Forcum said.
Avaya is still the largest premise-based UC provider on the market, which gives partners the unique ability to transition or even partially transition customers to the cloud based on their requirements, according to the company. There are many customers that aren’t looking to rip and replace their existing premise-architected communications solutions, but they may be interested in moving to the cloud for contact center-as-a-service (CCaaS) or an omnichannel collaboration solution, Avaya’s new CEO Alan Masarek told CRN in September.
“The beauty is, no one wants to go through that loss of the rip and replace. We can uniquely provide what competitors can’t. A competing [solution], by definition, is a complete rip and replace. Ours is not. It’s innovation without disruption and that really resonates with customers and partners,” Masarek said.
Offering innovation without disruption starts with Avaya’s customer base currently on the Avaya Aura and Contact Center Elite platforms, which make up the bulk of Avaya’s 100 million-seat install base, Forcum said.
Most of these customers have these solutions deployed in their data centers, he added. “The first thing we’re communicating to these customers is that if it ain’t broke, you don’t need to fix it. If your voice is routing properly, if you’ve got all these applications intertwined and you don’t want to move that to somewhere else, you don’t have to.”
This strategy will allow partners to help their customers “upgrade in place,” while keeping the existing platform current, while buying the product on a perpetual license or if they move to a subscription model. “You can pull down services from Experience Platform to add to that environment … we’re empowering further choice,” Forcum said.
Avaya in 2023 will be launching a unified client for Contact Center Elite and the Experience Platform to deliver users a single sign-on and pane of glass with which to view customer interactions. Avaya will also be adding an over-the-top integration between the Experience Platform and Avaya IP Office for VoIP, Forcum added.
For customers that are ready to go all-in on cloud for their communications needs, Avaya is ready to move IP Office users to Avaya Cloud Office (ACO), its UC offering based on the RingCentral platform. ACO and the Experience Platform are already fully integrated for combined UC and CCaaS needs.
Avaya said it plans on introducing more than 300 new features and enhancements to its communications solutions over the course of 2023.
Removing Complexity
In going live with its updated product roadmap, Avaya wanted to stress clarity and simplicity, Forcum said.
One of the first places the Durham, N.C.-based company is starting is injecting clarity within its product naming convention, which has been “conceptual” and will now be more “tangible,” Forcum said. For example, the company’s OneCloud CCaaS cloud-based contact center solution is now referred to as the Avaya Experience Platform. Avaya OneCloud Private, its private cloud offering, is now Avaya Enterprise Cloud as a nod to the offering’s strength with large customers, the company said.
“This is an ongoing effort that will be applying to other areas of our product portfolio to make it easier to understand when we’re explaining solutions, and when customers are looking at different products, and what we’re actually aiming at,” he said.
“As previously stated, lowering our costs, including through a reduction in our workforce, is necessary to position Avaya as a more agile and innovative organization and to align Avaya’s cost structure with our contractual, recurring revenue business model,” said Avaya CEO Alan Masarek in a statement regarding the layoffs two months ago.
Masarek said the company’s “reset” has required difficult decisions across the organizations and within Avaya’s portfolio, but said the changes are “necessary” to facilitate the company’s software transformation, in a blog post published on Tuesday.
Avaya has about 90,000 customers globally, according to the company.
Gina Narcisi is a senior editor covering the networking and telecom markets for CRN.com. Prior to joining CRN, she covered the networking, unified communications and cloud space for TechTarget. She can be reached at gnarcisi@thechannelcompany.com.
Tue, 29 Nov 2022 17:16:00 -0600entext/htmlhttps://www.crn.com/news/networking/revamped-avaya-roadmap-orbits-around-cloud-experience-platformKillexams : Avaya appoints Dino Beverakis as A/NZ boss
Dino Beverakis (Avaya)
Credit: Avaya
Avaya Australia and New Zealand has appointed its second managing director in two years in the form of Dino Beverakis.
The unified communications vendor officially promoted Beverakis from A/NZ head of professional services to the MD role, although ARN understands he has been leading the operation unofficially for some time.
Beverakis is based in Sydney and reports to Sami Ammous, vice president for East Asia and the Pacific at Avaya.
In his new role, Beverakis is charged with driving growth in the region, working alongside customers and channel partners in Federal and State Government, banking and financial services and education.
He has been with the vendor for almost four years and has experience at Optus, First Focus IT and Somerville.
“Companies on both sides of the Tasman are accepting the critical role that digital applications and services play in keeping employees and customers connected, and in turning the cogs of our national economies,” Beverakis said.
“Together with our channel, alliance and master agent partners, Avaya’s focus is to enable new customer and employee experiences for local organisations as the needs of A/NZ’s workforces and consumers continue to evolve.”
According to Ammous, Beverakis played a key role in the growth of Avaya’s professional services business across Asia Pacific.
“His exceptional knowledge of the A/NZ markets and local players, combined with experience at every stage of the customer lifecycle, enables us to take a proactive role in accelerating the long-term ambitions of our customers and partners with communications and collaborations solutions tailored to work for their businesses, employees, and cost models,” Ammous added.
Avaya Holdings disclosed its assessment of internal control over financial reporting (ICFR) in its fiscal year 2021 annual report can’t be relied upon, along with acknowledging weaknesses in its ethics and compliance program.
The deficiencies in internal control over financial reporting (ICFR) represented “material weaknesses,” the cloud technology company said in a filing with the Securities and Exchange Commission (SEC) on Wednesday. While Avaya contends with the control lapses, the company will file late its annual report for the year ended Sept. 30, 2022, it disclosed separately.
The announcements follow internal investigations and audits the company launched after learning its financial results for the quarter ended June 30, 2022, would be “significantly lower than previous expectations,” according to a late filing notice Avaya delivered to the SEC on Aug. 9.
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Avaya To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - December 6, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avaya Holdings Corp. ("Avaya" or the "Company") (NYSE: AVYA).
If you suffered losses exceeding $50,000 investing in Avaya stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may alsoclick here for additional information: www.faruqilaw.com/AVYA.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On June 27, 2022, Avaya announced $600 million in aggregate financing commitments, including $350 million of new Senior Secured Term Loans and $250 million of Exchangeable Senior Secured Notes. Management claimed "[t]his funding supports and accelerates our business model transformation."
A month later, on July 28, 2022, Avaya announced its board fired CEO James M. Chirico, Jr. The company also announced disastrous preliminary Q3 2022 financial results that included expected revenues and adjusted EBITDA well below previously given guidance and an unquantified but "significant" impairment charge. In addition, the company withdrew its 2022 guidance. This news sent the price of Avaya shares crashing 57% lower the next day.
Then, on Aug. 9, 2022, Avaya announced: (1) it determined there is substantial doubt about its ability to continue as a going concern; (2) it would not timely file its financial statements for the quarter ended June 30, 2022; (3) its Audit Committee commenced internal investigations into circumstances surrounding the company's financial results for the quarter; and, (4) the Committee also commenced an investigation into matters raised by a whistleblower. This news sent the price of Avaya shares crashing 45% lower that day.
Most recently, on Nov. 30, 2022, Avaya announced it would not timely file its financial statements for its fiscal year ended Sept. 30, 2022, revealed that its internal investigation is continuing, and admitted that it did not appropriately log the whistleblower's email received by a member of its Board of Directors and did not convey its existence to management or to its outside auditor.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not certain or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Tue, 06 Dec 2022 09:02:00 -0600text/htmlhttps://stockhouse.com/news/press-releases/2022/12/06/avaya-investor-alertKillexams : Avaya Investor Alert
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Avaya To Contact Him Directly To Discuss Their Options
New York, New York--(Newsfile Corp. - December 6, 2022) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avaya Holdings Corp. ("Avaya" or the "Company") AVYA.
If you suffered losses exceeding $50,000 investing in Avaya stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/AVYA.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On June 27, 2022, Avaya announced $600 million in aggregate financing commitments, including $350 million of new Senior Secured Term Loans and $250 million of Exchangeable Senior Secured Notes. Management claimed "[t]his funding supports and accelerates our business model transformation."
A month later, on July 28, 2022, Avaya announced its board fired CEO James M. Chirico, Jr. The company also announced disastrous preliminary Q3 2022 financial results that included expected revenues and adjusted EBITDA well below previously given guidance and an unquantified but "significant" impairment charge. In addition, the company withdrew its 2022 guidance. This news sent the price of Avaya shares crashing 57% lower the next day.
Then, on Aug. 9, 2022, Avaya announced: (1) it determined there is substantial doubt about its ability to continue as a going concern; (2) it would not timely file its financial statements for the quarter ended June 30, 2022; (3) its Audit Committee commenced internal investigations into circumstances surrounding the company's financial results for the quarter; and, (4) the Committee also commenced an investigation into matters raised by a whistleblower. This news sent the price of Avaya shares crashing 45% lower that day.
Most recently, on Nov. 30, 2022, Avaya announced it would not timely file its financial statements for its fiscal year ended Sept. 30, 2022, revealed that its internal investigation is continuing, and admitted that it did not appropriately log the whistleblower's email received by a member of its Board of Directors and did not convey its existence to management or to its outside auditor.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not certain or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Tue, 06 Dec 2022 09:11:00 -0600text/htmlhttps://www.benzinga.com/pressreleases/22/12/29984829/avaya-investor-alertKillexams : AVAYA INVESTOR ALERT
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Avaya To Contact Him Directly To Discuss Their Options
NEW YORK, Dec. 1, 2022 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Avaya Holdings Corp. ("Avaya" or the "Company") AVYA.
If you suffered losses exceeding $50,000 investing in Avaya stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/AVYA.
There is no cost or obligation to you.
Faruqi & Faruqi is a leading minority and Woman-owned national securities law firm with offices in New York, Pennsylvania, California and Georgia.
On June 27, 2022, Avaya announced $600 million in aggregate financing commitments, including $350 million of new Senior Secured Term Loans and $250 million of Exchangeable Senior Secured Notes. Management claimed "[t]his funding supports and accelerates our business model transformation."
A month later, on July 28, 2022, Avaya announced its board fired CEO James M. Chirico, Jr. The company also announced disastrous preliminary Q3 2022 financial results that included expected revenues and adjusted EBITDA well below previously given guidance and an unquantified but "significant" impairment charge. In addition, the company withdrew its 2022 guidance. This news sent the price of Avaya shares crashing 57% lower the next day.
Then, on Aug. 9, 2022, Avaya announced: (1) it determined there is substantial doubt about its ability to continue as a going concern; (2) it would not timely file its financial statements for the quarter ended June 30, 2022; (3) its Audit Committee commenced internal investigations into circumstances surrounding the company's financial results for the quarter; and, (4) the Committee also commenced an investigation into matters raised by a whistleblower. This news sent the price of Avaya shares crashing 45% lower that day.
Most recently, on Nov. 30, 2022, Avaya announced it would not timely file its financial statements for its fiscal year ended Sept. 30, 2022, revealed that its internal investigation is continuing, and admitted that it did not appropriately log the whistleblower's email received by a member of its Board of Directors and did not convey its existence to management or to its outside auditor.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not certain or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
