News : AltiGen Communications Announces the Retirement of CFO Philip M. McDermott
San Jose, CA, USA, Nov 8, 2016 -- AltiGen Communications, Inc. (OTCQX: ATGN), a provider of Microsoft-based Cloud Unified Communications solutions, announced that Philip M. McDermott plans to retire in the Spring of 2017.
Mr. McDermott joined the Company in 1999 and has served as Chief Financial Officer since then. In 2012 Mr. McDermott was elected by the shareholders to serve on the AltiGen Board of Directors, a position which Mr. McDermott will continue to hold.
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"Phil has been an integral member of the AltiGen management team for nearly 20 years. His business acumen and dedication to the company have been instrumental to AltiGen's success over the years, and his contributions have been particularly important as the company has migrated from a hardware-centric provider of business telephone systems to a provider of cloud-based Unified Communications solutions. Both myself and the entire AltiGen management team are thankful for Phil's service and contributions to the company and wish him the best as he transitions into retirement," said Jeremiah Fleming, AltiGen's Chairman, President and CEO.
According to Mr. McDermott, "During my tenure with AltiGen, the company has undergone a multitude of changes given the competitive nature of our business. While there have been numerous challenges in migrating from a hardware to a software company and transitioning AltiGen's financial model from a one-time licensing to monthly recurring revenue model, I believe AltiGen is positioned well for future success. Having made significant progress on these initiatives, now is an opportune time for my retirement."
The Company will initiate efforts to identify candidates and hire a successor for Mr. McDermott to ensure a smooth transition, with Mr. McDermott's assistance and support.
Posted by Veronica Silva Cusi, news correspondent
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About Altigen Communications:
AltiGen Communications designs, manufactures and markets next generation, time-tested IP-PBX telephone systems that use both the Internet and the public telephone network to enable an array of applications that take advantage of the convergence of voice and data communications.
Published: Wednesday, November 9, 2016