Zoom (ZM) Chief Accounting Officer to Resign

Zoom (NASDAQ: ZM) diclosed:

On August 26, 2020, Roy Benhorin, Chief Accounting Officer of Zoom Video Communications, Inc. (the “Company”) notified the Company of his decision to resign from the Company effective October 16, 2020. Mr. Benhorin’s resignation is not a result of any disagreement with the Company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls.

On August 30, 2020, the Company’s board of directors appointed Shane Crehan, age 46, to serve as the Company’s principal accounting officer, effective September 21, 2020. Mr. Benhorin will remain the Company’s principal accounting officer until the effective date of Mr. Crehan’s appointment. Mr. Crehan most recently served as Chief Accounting Officer of Eventbrite, Inc. from January 2019 to September 2020. From December 2009 to July 2018, Mr. Crehan held various finance roles at Facebook, Inc., a global social networking company, including as Head of International Finance and Global Finance Operations from 2016 to 2018. Mr. Crehan started his career as a public accountant with Ernst & Young, and prior to joining Facebook, held various roles in the financial services and online gambling industries. Mr. Crehan holds a Bachelor of Arts (with first class honors) in Law and Accounting from the University of Limerick in Ireland. Mr. Crehan is a Fellow Chartered Accountant of Chartered Accountants Ireland and has subsequently completed a professional Diploma in International Financial Reporting Standards with distinction.

In connection with Mr. Crehan’s appointment as Chief Accounting Officer, the Company entered into an employment offer letter with Mr. Crehan. The employment offer letter provides for, among other things, (i) an annual base salary of $350,000, (ii) a sign-on bonus of $40,000, which is recoverable should Mr. Crehan voluntarily terminate his employment within 12 months of his start date, (iii) eligibility to participate in the Company’s standard corporate bonus program for non-commissioned employees, and (iv) an award of restricted stock units under the Company’s 2019 Equity Incentive Plan, subject to time-based vesting over four years, valued at approximately $3,500,000. There is no family relationship between Mr. Crehan and any of the directors or executive officers of the Company.

You May Also Be Interested In

• JPMorgan (JPM) Chief Market Strategist Kolanovic To Depart From Firm - Bloomberg
• Pacira BioSciences (PCRX): Patent Infringement Suit vs eVenus is Still Pending
• Endeavour Mining (EDVMF) to Join FTSE 100 Index