Plantronics CFO stepping down, will stay on during transition
After more than 15 years of controlling the purse strings at Plantronics (NYSE: PLT), and a total of 25 years in senior financial leadership roles within the technology industry, SVP and CFO Barbara Scherer is planning to retire to "re-focus my energies on new business opportunities and personal interests."
But the longtime Plantronics exec has committed to stay on board until the audio communications company finds her successor.
"Plantronics is an outstanding company, and I am proud to be able to say that I helped grow it to its current state," Scherer said. "My experience has been exciting, challenging and fulfilling, and I've deeply enjoyed working with the team here. At this stage of my career and reaching the 15-year milestone with Plantronics, I'm ready for a change and plan to re-focus my energies on new business opportunities and personal interests."
Scherer said she was "fully committed to making this a smooth transition for everyone concerned," adding that she'll stay on during the transition as well.
During Scherer's tenure, Plantronics has more than tripled its revenue and increased its share price five-fold by developing products for growth markets such as wireless and Unified Communications.
"Although we will be sad to see Barbara go, we are excited for her and wish her the very best continued success," CEO and President Ken Kannappan said. "Barbara has played an instrumental role in helping us to achieve strong business and financial results year after year, and she has been a trusted and valued advisor. I also deeply appreciate Barbara's help with the search and commitment to make this a seamless transition."
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