8×8 Appoints Ian Potter to the Board of Directors!

 
SAN JOSE, Calif. — (BUSINESS WIRE) — 8×8, Inc. (NASDAQ:EGHT), provider of innovative cloud communications and computing solutions, today announced the appointment of Ian Potter, an accomplished international business executive, to its Board of Directors, effective September 17, 2013. With his addition to the Board, Mr. Potter will become a member of the Compensation Committee.

Mr. Potter resides in Singapore and France and brings more than 25 years of international business development, management and operational experience to 8×8. He was most recently a Managing Director of Morgan Stanley & Co. in Singapore, having moved there in 1994 to establish the firm’s commodities trading and risk management business across Asia.

“Ian’s international business acumen, expertise in launching and growing multinational enterprises and deep knowledge of European and Asian business practices and regulatory matters will be of immense value to 8×8 as we expand upon our current success in the U.S. to meet the growing worldwide demand for our cloud-based services,” said Vik Verma, Chief Executive Officer of 8×8, Inc. “We are honored that Ian has accepted our invitation to join 8×8’s Board of Directors and look forward to his energy, wisdom and counsel through our next phase of growth.”

“I’m delighted to join the 8×8 Board of Directors at this exciting time in the Company’s evolution,” said Mr. Potter. “The cloud-based, unified communications industry is poised for significant international growth, and 8×8 is uniquely positioned to capitalize on this opportunity with its superior technology platform, established track record of domestic success, and world class management team. The recent changes at the executive level highlight the Company’s commitment to continuing leadership and growth in the sector and I look forward to the opportunities ahead for 8×8.”

Mr. Potter is currently a Distinguished Fellow with INSEAD’s Global Private Equity Initiative, a Senior Advisor at Morgan Stanley and the Managing Partner of Lion City Capital Partners. From 1994 until his retirement from Morgan Stanley in 2013, he supervised all aspects of the firm’s commodity business in Asia while serving on a number of internal and external private company boards. During this time, he opened the group’s New Delhi, Shanghai, and Tokyo offices and was responsible for developing the group’s capacity across the region and expanding its product offerings. Morgan Stanley’s Japanese and Chinese offices were the first of their type to be established and required significant interaction and support from local enterprises, regulators and authorities. Mr. Potter began his career in London and New York working for Chase Manhattan Bank N.A. where he contributed to the development of the bank’s interest rate and currency derivatives business. He holds an MBA from INSEAD in France and a BA from Queen’s University in Canada.

8×8 also reported, in accordance with NASDAQ Listing Rule 5635(c)(4), that employment inducement awards were granted to four new employees in connection with their recent hiring. The employees were granted stock options to purchase an aggregate of 50,000 shares of the Company’s Common Stock, with an exercise price of $9.74 per share, which was the closing price of the Company’s Common Stock on September 17, 2013. The options have a ten year term and vest over a period of four years, with 25% vesting after one year of the grant date and the remaining 75% vesting in approximately equal monthly increments over the succeeding thirty-six months, subject to their continued employment. In addition, these employees received restrictive stock units for 7,500 shares of common stock, also subject to continued employment, and other conditions.

About 8×8, Inc.

8×8, Inc. (NASDAQ:EGHT) empowers business conversations for more than 33,000 businesses with cloud communications services that include hosted PBX telephony, unified communications, call center software and video conferencing solutions. The company has been delivering business communications services since 2004 and has garnered a reputation for technical excellence and outstanding reliability. In 2012, 8×8 was named a market “leader” in Gartner’s Magic Quadrant for Unified Communications as a Service (UCaaS) in North America and was recognized as the No. 1 Provider of Hosted IP Telephony by Fros & Sullivan and Synergy Research Group. For additional information, visit www.8×8.com, or connect with 8×8 on Google+, Facebook, LinkedIn and Twitter.