SUNNYVALE, Calif., May 10, 2013 – ShoreTel® (NASDAQ: SHOR), the leading provider of brilliantly simple unified communications platforms including business phone systems, applications and mobile UC solutions, today announced that Peter Blackmore, president and CEO, has informed the company of his intention to retire as soon as a successor is announced.
“It has been a privilege to work with the ShoreTel team,” said Mr. Blackmore. "I am confident that the company is well-positioned in both the cloud and premise unified communications markets. With recent changes to our organizational and cost structure, we can now scale with a model positioned for profitability, enhancing our objective of delivering improved shareholder value.”
ShoreTel board member Chuck Kissner, who was recently appointed Chairman said, “Under Peter’s strong leadership, ShoreTel has nearly doubled its revenues, taken a leadership position in cloud-based business communications and consistently grown its premise-based IP business phone system share of the market.”
“We are grateful that Peter will continue in his role during this transition period. We intend to keep moving full speed ahead with our near-term plans to launch new innovative products and services and to continue to execute on our combined premise and cloud strategy,” Kissner added.
A search for a new CEO is underway.
Legal Notice Regarding Forward-Looking Statements
ShoreTel assumes no obligation to update the forward-looking statements included in this release. This release contains forward-looking statements within the meaning of the "safe harbor" provisions of the federal securities laws, including, without limitation, future outlook. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. The risks and uncertainties include the intense competition in our industry, our reliance on third parties to sell and support our products, our ability to grow our ShoreTel Sky business, our ability to maintain our premise business in a profitable manner, supply and manufacturing risks, our ability to control costs as we expand our business, increased risk of intellectual property litigation by entering into new markets, our ability to attract, retain and ramp new sales personnel, uncertainties inherent in the product development cycle, uncertainty as to market acceptance of new products and services, the potential for litigation in our industry, risks related to our acquisition of M5 Networks, including technology and product integration risks, our ability to attract and retain key personnel and customers and the risk of assuming unknown liabilities, and other risk factors set forth in ShoreTel's Form 10-K for the year ended June 30, 2012, and in its Form 10-Q for the quarter ended December 31, 2012.
About ShoreTel, Inc.
ShoreTel, Inc., (NASDAQ: SHOR) is a leading provider of Pure IP unified communications solutions. ShoreTel enables companies of any size to seamlessly integrate all communications - voice, video, messaging and data - with their business processes. Independent of device or location, ShoreTel's distributed software architecture eliminates the traditional costs, complexity and reliability issues typically associated with other solutions. ShoreTel continues to deliver the highest levels of customer satisfaction, ease of use and manageability while driving down the overall total cost of ownership. ShoreTel is headquartered in Sunnyvale, California, and has regional offices in Austin, Texas, the United Kingdom, Sydney, Australia and Munich, Germany. For more information, visit www.shoretel.com or call 1-800-425-9385.