Zoom Video Communications Inc. abruptly terminated the employment of President Greg Tomb, a former Google executive who had only started at the videoconferencing company in June.
Tomb will receive severance benefits in accordance with arrangements that are payable upon a "termination without cause," the company said in a regulatory filing. The move is effective Friday.
A spokesperson for San Jose, California-based Zoom said the company isn't looking to find a replacement at this time and declined to comment further.
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The executive had taken a high-profile role at Zoom during his short tenure, appearing on earnings calls and overseeing the company's sales operation. He reported directly to Chief Executive Officer Eric Yuan, who started Zoom in 2011 and had to rapidly build up the business during a pandemic-fueled boom. More recently, the company has been cutting jobs to deal with softening demand.
Tomb's employment included a $45 million stock grant that would vest over four years, in addition to a $400,000 base salary with an 8 per cent bonus target, according to a June filing.
In an interview with Bloomberg during the January World Economic Forum in Davos, Switzerland, Tomb spoke optimistically about Zoom's growth potential while acknowledging that the company faced more competition. A few weeks later Zoom announced it would cut 15 per cent of its workforce.