• CEO Alan Masarek to Retire at Year End; Current Board Chair Patrick Dennis Named CEO 

• Company Emphasizes Consistency in Strategic Direction and Commitment to Customers

Avaya, a leader in enterprise CX, 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.

“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”

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.

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“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,” said 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.”

Prior to his appointment at Venafi, Mr. Dennis was the CEO of ExtraHop, which nearly doubled in size during his tenure and received industry accolades for the company’s thought leadership in Artificial Intelligence. Mr. Dennis also served as CEO of Aspect Communications (a multinational software company that sells customer experience software to large enterprises, now known as Alvaria) and Guidance Software, and held multiple leadership roles at both EMC and Oracle Corporation.

Mr. Masarek’s retirement comes at the conclusion of 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.”

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Ongoing Momentum

Over the past two years, Avaya successfully completed a recapitalization and a strategic reset of its customer value proposition and brand promise. More recently, the company embarked on an extensive operational transformation within each functional area and has been focused on the revitalization of its culture, bolstered by a new executive leadership team, and upgrades in talent throughout the company.

Avaya has continued innovating its cloud communications and services portfolio, including Avaya Experience Platform, has delivered on its product roadmaps, and set a path forward for Avaya as a leader in Enterprise CX.