Greg Tomb joined Zoom in June 2022.
Video conferencing platform Zoom has fired its chairman, Greg Tomb, the BBC reported, citing the company’s regulatory filings. Mr Tomb’s contract was abruptly terminated “without cause”. He will be entitled to severance pay as per the company’s payable rules in case of ‘dismissal without cause’, the division added.
Mr Tomb, a businessman and former Google employee, will take up the role in June 2022. Since then, he has actively participated in earnings calls and led the company’s sales. A Zoom spokesperson said the tech company is not looking for a replacement.
He was directly responding to Zoom CEO Eric Yuan, who founded the company in 2011 and had to expand rapidly during the pandemic-induced boom. The company has recently begun laying off employees to cope with lower demand.
The company, which has taken a hit during Covid-19, announced on February 7 that it would lay off about 15%, or 1,300, of its employees. A company blog also said Mr. Yuan would take a 98% pay cut this year and lose his executive bonus. The CEO said members of his management team would also give up bonuses and take a 20% pay cut.
“Our trajectory was forever changed during the pandemic when the world faced one of its most difficult challenges, and I’m proud of how we came together as a company to connect people,” Mr. Yuan said in a company blog post.
He said Zoom hired more staff during the pandemic as people used the platform for remote work, court appearances, public meetings, education, as the risks of Covid-19 prevented them from meeting in person.
He continued: “We worked hard, but we made mistakes. It didn’t take long for us to carefully analyze our teams or assess whether we were consistently evolving toward our highest priorities. We see that people and businesses will continue to rely on Zoom.”
However, Mr. Yuan said the company needs to reflect on its long-term goals. “But the uncertainty of the global economy and the impact it has on our customers means we need to take a critical look at ourselves to reposition ourselves to weather the economic climate, meet customer needs and deliver on our vision. scaling term”.
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