Zoom abruptly fires President Greg Tomb ‘for no reason’

(Bloomberg) – Zoom Video Communications Inc. abruptly terminated the employment of President Greg Tomb, a former Google executive who only joined the video conferencing company in June.

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Tomb will receive severance payments under the terms of the agreement, payable upon “termination without cause,” the company said in a regulatory filing. The move takes effect on Friday.

A spokesman for Zoom, based in San Jose, Calif., said the company is not currently seeking a replacement and declined to comment further.

The manager had held a high-profile role at Zoom during his brief tenure, appearing at earnings talks and overseeing the company’s sales operations. He reports directly to Chief Executive Officer Eric Yuan, who founded Zoom in 2011 and needed to quickly build the business during a pandemic-related boom. More recently, the company has cut jobs to meet slowing demand.

Tomb’s tenure included a $45 million stock award that would vest over four years, in addition to a $400,000 base salary with an 8% bonus target, according to a June filing.

In an interview with Bloomberg during January’s World Economic Forum in Davos, Switzerland, Tomb spoke optimistically about Zoom’s growth potential and acknowledged that the company faces greater competition. A few weeks later, Zoom announced it would cut 15% of its workforce.

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https://finance.yahoo.com/news/zoom-abruptly-fires-president-greg-231102233.html Zoom abruptly fires President Greg Tomb ‘for no reason’

Russell Falcon

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