RingCentral, a leader in AI-powered enterprise cloud communications, video meetings, collaboration, and contact center solutions, has unveiled its latest strategic move with the appointment of Tarek Robbiati as the new Chief Executive Officer. The leadership transition is set to take effect on August 28, 2023, bringing a seasoned industry veteran at the helm of the company’s ambitious endeavors.
Tarek Robbiati, a distinguished figure in the world of strategic and financial operations, currently serves on the RingCentral Board of Directors since December 2022. Concurrently, he holds the esteemed position of Chief Financial Officer and EVP of Finance and Strategy at Hewlett Packard Enterprise (HPE). His expertise and strategic acumen have significantly contributed to shaping HPE’s transformation journey, leading to remarkable growth in key areas.
Vlad Shmunis, the visionary leader who has guided RingCentral’s ascent to industry prominence, will pivot to the role of Executive Chairman. In this capacity, Shmunis will channel his energies into driving the company’s strategic product vision and fostering innovation, as RingCentral continues to push the boundaries of cloud communications.
Under Vlad Shmunis’ stewardship, RingCentral has attained remarkable milestones, boasting annual revenues exceeding $2.2 billion, a robust customer base of 400,000, a network of 15,000 channel partners, and a dedicated team of approximately 4,000 employees.
Tarek Robbiati’s leadership track record spans across the telecom, media, technology, and financial services sectors. His transformative influence was most recently witnessed during his tenure at HPE, where he masterminded the strategic shift towards higher-growth, higher-margin segments. This initiative not only more than doubled HPE’s ARR but also yielded substantial growth in free cash flow.
Before his role at HPE, Tarek Robbiati made significant contributions as the CFO of Sprint Corp, where his strategic efforts were pivotal in reshaping the company’s trajectory. His versatile leadership experience extends to CEO roles at publicly listed and private companies in Australia and Hong Kong, further underscoring his exceptional credentials.
RingCentral also revealed that Mo Katibeh, the President and Chief Operating Officer, will be stepping down. Mo Katibeh’s impact on the company’s evolution has been profound, encompassing pivotal roles in team building, product innovation, partner ecosystem expansion, and the cultivation of a winning corporate culture.
In terms of financial performance, RingCentral reported robust figures for the second quarter of 2023, with revenues reaching $539 million, marking an impressive 11 percent growth compared to the same period in the previous year. Subscriptions revenue, a key indicator of the company’s sustained success, totaled $514 million, reflecting an 11 percent year-over-year increase and constituting a significant 95 percent of the total revenue.
As RingCentral embarks on this pivotal leadership transition, industry observers eagerly anticipate the company’s next chapter of innovation, growth, and technological advancement under the seasoned leadership of Tarek Robbiati.
