SANTA CLARA, CA--(Marketwired - October 25, 2017) - Avaya Inc. today announced it has appointed Patrick O'Malley as Senior Vice President and Chief Financial Officer, effective immediately. David Vellequette, who has served as Avaya's CFO for the past five years, will remain as Senior Vice President of Finance until the end of 2017 to ensure a smooth transition and help complete Avaya's debt restructuring and public listing efforts.
Mr. O'Malley joins Avaya following a 30-year career with Seagate Technology, where he served in a variety of roles, including as CFO from 2008 to 2015. During his career at Seagate, he played an integral role in helping the company with its re-listing on the NASDAQ after two years of private ownership and with the restructuring of its debt following the 2008 financial crisis.
"We're thrilled to welcome Pat to Avaya's leadership team," said Jim Chirico, President and Chief Executive Officer of Avaya. "Pat is a proven public company executive, whose experience is directly relevant to building Avaya's next chapter, including our emergence from Chapter 11 as a public company. We look forward to benefiting from his deep financial expertise and the wealth of knowledge he's accumulated working in enterprise technology for over 30 years. I'd also like to thank Dave for his contributions to Avaya and wish him well in his future endeavors."
Mr. O'Malley will be responsible for financial governance and management of Avaya's financial operations, including overall responsibility for the controller's organization, financial planning, treasury, tax and investor relations.
"I'm excited to join Avaya at such a pivotal moment in the company's history," said Mr. O'Malley. "I look forward to working closely with Jim and the team to help position the company for the future, including capitalizing on the immense opportunity ahead and setting Avaya on a path of long-term, sustainable growth."
Mr. O'Malley holds a B.A. in Accounting from the University of Notre Dame.
About Avaya
Avaya enables the mission critical, real-time communication applications of the world's most important operations. As the global leader in delivering superior communications experiences, Avaya provides the most complete portfolio of software and services for contact center and unified communications -- offered on premises, in the cloud, or a hybrid. Today's digital world requires communications enablement, and no other company is better positioned to do this than Avaya. For more information, please visit www.avaya.com.
Cautionary Note Regarding the Chapter 11 Cases
The Company's security holders are cautioned that trading in securities of the Company during the pendency of the Company's Chapter 11 proceeding will be highly speculative and will pose substantial risks. It is possible some or all of the Company's currently outstanding securities may be cancelled and extinguished upon confirmation of a restructuring plan by the United States Bankruptcy Court for the Southern District of New York ("Bankruptcy Court"). In such an event, the Company's security holders would not be entitled to receive or retain any cash, securities or other property on account of their cancelled securities. Trading prices for the Company's securities may bear little or no relation to actual recovery, if any, by holders thereof in the Company's Chapter 11 proceeding. Accordingly, the Company urges extreme caution with respect to existing and future investments in its securities.
Cautionary Note Regarding Forward-Looking Statements
This document contains certain "forward-looking statements." All statements other than statements of historical fact are "forward-looking" statements for purposes of the U.S. federal and state securities laws. These statements may be identified by the use of forward looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "our vision," "plan," "potential," "preliminary," "predict," "should," "will," or "would" or the negative thereof or other variations thereof or comparable terminology and include, but are not limited to, statements regarding timing of exit from the Chapter 11 proceeding, technology innovation and operational projections. The Company has based these forward-looking statements on its current expectations, assumptions, estimates and projections. While the Company believes these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond its control. These factors, including, but not limited to adjustments in the calculation of financial results for the third quarter, or the application of accounting principles, discovery of new information that alters expectations about financial results or impacts valuation methodologies underlying financial results, accounting changes required by United States generally accepted accounting principles, and those risks discussed in the Company's Annual Report on Form 10-K for the fiscal year ended September 30, 2015, may cause its actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements. For a further list and description of such risks and uncertainties, please refer to the Company's filings with the SEC that are available at www.sec.gov. The Company cautions you that the list of important factors included in the Company's SEC filings may not contain all of the material factors that are important to you. In addition, in light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report may not in fact occur. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
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Source: Avaya Newsroom