March 13 Videoconferencing equipment maker
Polycom Inc said it eliminated the position of chief
operating officer at a time when the company is cutting costs to
better compete against rivals such as Cisco and Google.
Eric Brown, who was also the chief financial officer, will
leave the company "to pursue other opportunities," Polycom said
"Increasing operating margins remains the number one
financial priority for Polycom in 2014," Chief Executive Peter
Leav said in a statement.
The company said it was streamlining the accounting,
finance, services and operations functions to drive the
operating margin improvement.
Polycom said in January it would reduce 6 percent of its
workforce, following a 4 percent reduction last August.
The company said Chief Accounting Officer Laura Durr would
serve as interim CFO while it searches for a replacement.
Polycom's previous CEO Andy Miller had resigned over
irregularities in expense submissions last July.
The company, which also makes teleconferencing and
content-sharing hardware and software, is facing rising
competition from Cisco Systems Inc and Google Inc
, which unveiled a videoconferencing system for
businesses last month.
Polycom's shares were marginally up at $13.58 in early trade