Avaya Announces Chief Financial Officer Transition

SANTA CLARA, Calif.–(BUSINESS WIRE)–Avaya Holdings Corp. (NYSE: AVYA) today announced that Kieran McGrath
will assume the role of Senior Vice President and CFO of Avaya effective
February 15, 2019 and Pat O’Malley will transition to serve as Senior
Vice President, Growth Initiatives. McGrath and O’Malley will both
report to Jim Chirico, Avaya President and CEO.

McGrath has thirty-plus years of technology industry financial,
operational and transformational experience in software as a service,
cloud computing, and technology services. He most recently served as
Executive Vice President and CFO at CA Technologies from July 2016 until
the company’s acquisition in November 2018. During McGrath’s tenure at
CA, the company returned to consecutive years of revenue growth
primarily driven by software as a service cloud revenue. Prior to CA, he
served in several key finance and operations leadership roles during a
lengthy career at IBM, including six years as the Vice President of
Finance for the IBM Software Group. McGrath will be responsible for
financial governance and management of Avaya’s financial operations,
including overall responsibility for the controller organization,
financial planning, treasury, tax and investor relations.

“Kieran is an outstanding addition to our leadership team, bringing a
wealth of experience and proven performance to Avaya as we continue our
transformation and invest for our future growth,” said Jim Chirico,
Avaya President and CEO. “He is well-known and respected in the
financial community and the technology industry and has demonstrated
success in leading global organizations. We are pleased to have Kieran
at Avaya and are highly confident that his focus will further our
objective to drive value for shareholders.”

“I am very excited to be joining the Avaya team and look forward to
leading the finance organization in support of Avaya’s transformational
journey,” said McGrath.

Joining Avaya in 2017, O’Malley led the financial transformation of the
company as it sought to restructure its financial position and
transition to a publicly-traded company. O’Malley oversaw achievement of
a number of strategic objectives in 2018, including strengthening the
balance sheet, driving revenue stability and investing in innovation
while maintaining the company’s industry-leading financial model.

In his new role, O’Malley will be responsible to accelerate strategic,
cross-functional initiatives that are fundamental to Avaya’s primary
objective of revenue growth in fiscal 2019.

“Pat has consistently demonstrated superior leadership and done a
masterful job managing our transition to a public company,” said
Chirico. “He has been instrumental in achieving credibility,
predictability and consistency in laying a solid financial foundation
for Avaya, and I look forward to the contributions he will make in his
new role.”

In addition to its CFO transition, Avaya announced that Laurent
Philonenko, Senior Vice President, Innovation, will be departing the
company this month to assume the role of Chief Executive Officer for a
customer experience management organization that is a business partner
to Avaya.

“Laurent has significantly advanced Avaya’s capabilities in bringing
new, disruptive solutions to the market, especially in the areas of
artificial intelligence, mobility and security,” Chirico said. “While we
regret he is leaving Avaya, a CEO role is a great opportunity for
Laurent and we wish him tremendous success. We will build on and extend
the Innovation Incubator that Laurent has established here, to continue
delivering innovation that enhances our position as a technology leader.”

About Avaya

Businesses are built on the experiences they provide, and every day
millions of those experiences are built by Avaya (NYSE:AVYA). For over
one hundred years, we’ve enabled organizations around the globe to win –
by creating intelligent communications experiences for customers and
employees. Avaya builds open, converged and innovative solutions to
enhance and simplify communications and collaboration – in the cloud,
on-premise or a hybrid of both. To grow your business, we’re committed
to innovation, partnership, and a relentless focus on what’s next.

Cautionary Note Regarding Forward-Looking Statements

This document contains certain “forward-looking statements.” All
statements other than statements of historical fact are
“forward-looking” statements for purposes of the U.S. federal and state
securities laws. These statements may be identified by the use of
forward looking terminology such as “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “intend,” “may,” “might,” “our vision,”
“plan,” “potential,” “preliminary,” “predict,” “should,” “will,” or
“would” or the negative thereof or other variations thereof or
comparable terminology and include, but are not limited to, the outlook
for the second quarter of fiscal 2019 and fiscal year 2019, including
the expected impact of ASC 606. The company has based these
forward-looking statements on its current expectations, assumptions,
estimates and projections. While the company believes these
expectations, assumptions, estimates and projections are reasonable,
such forward-looking statements are only predictions and involve known
and unknown risks and uncertainties, many of which are beyond its
control. These factors are discussed in the Company’s Annual Report on
Form 10-K filed with the Securities and Exchange Commission (the
“SEC”), and may cause its actual results, performance or achievements to
differ materially from any future results, performance or achievements
expressed or implied by these forward-looking statements. For a further
list and description of such risks and uncertainties, please refer to
the company’s filings with the SEC that are available at
The company cautions you that the list of important factors included in
the company’s SEC filings may not contain all of the material factors
that are important to you. In addition, in light of these risks and
uncertainties, the matters referred to in the forward-looking statements
contained in this report may not in fact occur. The company undertakes
no obligation to publicly update or revise any forward-looking statement
as a result of new information, future events or otherwise, except as
otherwise required by law.

Source: Avaya Newsroom


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