Synchronoss Technologies, Inc. (NASDAQ: SNCR), a global leader and innovator of cloud, messaging, digital and IoT products, today announced that its Board of Directors has appointed Jeff Miller as interim President and Chief Executive Officer, effective immediately, in addition to his role as Chief Commercial Officer. He succeeds Glenn Lurie who has resigned as the Company’s President and Chief Executive Officer, and as a member of its Board of Directors, following the Board of Directors’ review of allegations of personal misconduct by Mr. Lurie in violation of the Company’s policies. His resignation is not related to the Company’s strategy, financial or business performance. Given the expectation that all employees will respect Synchronoss’ values and adhere to the Company’s code of conduct, the Board has accepted Mr. Lurie’s resignation. The Board of Directors will conduct an executive search to identify a permanent President and Chief Executive Officer.
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“Synchronoss continues to develop innovative technology and solutions for some of the world’s leading technology and telecommunications companies,” said Stephen Waldis, Founder and Chairman of the Board of Synchronoss. “The Board and I look forward to working with Jeff, our Chief Financial Officer David Clark and the broader Synchronoss management team to drive forward the ongoing transformation of Synchronoss, building on the strength of our customer relationships, and delivering long-term value to our shareholders. We anticipate a smooth leadership transition as we commence a robust search process for the Company’s next CEO.”
Mr. Miller joined Synchronoss in 2018 as Chief Commercial Officer from IDEAL Industries, a firm focused on designing and delivering solutions for smart commercial buildings and spaces, where he was President of the Technology Group. Mr. Miller previously served 16 years with Motorola, most recently as Corporate Vice President and General Manager of Operations in North America for Motorola Mobility, LLC, a division of Lenovo, and held various leadership positions in Sales Management, Marketing and Product Management at AT&T during an 11-year tenure.
Jeff Miller, Interim President and CEO, commented, “We see many attractive opportunities for growth across our Cloud, Messaging, Digital and IoT platforms. I look forward to maintaining the depth and long-term nature of our global customer relationships, a hallmark of Synchronoss, as now, more than ever, our customers look to us to address their business challenges. I welcome the opportunity to work closely with the Board and our management team to drive enhanced performance throughout our organization, capitalize on strategic opportunities in the telecom and digital spaces and help position Synchronoss for our next stage of growth.”
In parallel, Synchronoss is maintaining its 2020 guidance on EBITDA of $20 million to $25 million, as previously communicated in its second quarter earnings release dated August 10, 2020. Additional details relating to the Company’s financial performance and business outlook will be provided during its customary quarterly earnings call in November 2020.
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