Avaya, a leader in enterprise CX, recently announced that Alan Masarek, President and Chief Executive Officer, will retire at the end of the calendar year. Avaya’s current Chair of the Board of Directors, Patrick Dennis, will assume the role of CEO, effective September 1, 2024.
Industry sources added that Mr. Dennis brings 30 years of experience and a proven track record of transformational leadership of companies in Enterprise Software, SaaS, Cybersecurity, and Communications. He currently serves as CEO of Venafi, a cybersecurity company that is in the process of being acquired by CyberArk, where he drove innovation, growth, and customer success.
“I am honored and thrilled to lead Avaya on the next phase of its journey building on the solid foundation laid by Alan and the leadership team,” stated Mr. Dennis. “Avaya is now operating from a position of financial strength and industry leadership, and our strategy is resonating with customers around the world who can be confident in Avaya’s consistency in strategic direction and commitment to deliver for their long-term success. I look forward to working with the team to accelerate Avaya’s market momentum.”
Industry sources further added that Mr. Masarek’s retirement comes after a successful, eight-quarter transformation of the business, setting Avaya’s ongoing strategic plan for innovation and growth, and firmly positioning the company as a leader in Enterprise CX. Mr. Dennis became Chair of the Avaya Board as the company emerged from its recapitalization in May 2023, and has been a close partner with Mr. Masarek and the leadership team in developing Avaya’s strategy and growth plans. As such, the succession is built upon a shared vision for Avaya’s go-forward strategic direction, innovation, and long-term growth.
“Two years ago, I came out of retirement to help lead Avaya forward knowing that the company’s opportunity was extremely profound: terrific technology underpinning an enormous customer base, a massive ecosystem of partners, a large revenue base, and an iconic technology brand,” said Mr. Masarek. “Working closely with Avaya’s executive leadership team, the Board, our employees, customers and partners has been an immeasurably rewarding experience, and I’m proud of what we have all accomplished together to put Avaya on a strong and steady course for further success. And, while there is certainly more to do, Avaya’s new position of strength combined with Patrick’s unique ability to lead the company creates an opportunity for me to return to retirement, fully confident in Patrick’s ability to lead Avaya to future long-term growth and innovation.”
