San Jose, Calif.-based telecom 8x8 (NASDAQ: EGHT ) has a new CEO.
On Monday, 8x8 announced that Board of Directors member Vikram Verma has been appointed its chief executive officer, replacing current CEO Bryan Martin, who is stepping down one rung to become company chief technology officer, effective immediately. Martin remains Verma's boss, however, inasmuch as he is retaining his position as chairman of the board of directors.
Explaining his decision to step aside as CEO in favor of Verma, Martin said the company's new chief executive possesses "expertise ... in guiding growth technology companies on a global basis [and] is what 8x8 needs to accelerate this plan."
Verma is described as bringing "over 23 years of diverse executive experience to 8x8, including President of Strategic Venture Development at Lockheed Martin and Chairman of the Board and CEO of Savi Technology." An engineer by training, and with multiple degrees in electrical engineering, Verma actually began his career as a design engineer at Savi, rising to eventually run the whole company.