Avaya appoints RingCentral board nominee to board, says committed to partnership

Avaya (AVYA) publicly disclosed certain business information that it confidentially shared with certain of its financial stakeholders. This information was shared in connection with ongoing constructive discussions Avaya is having with its financial stakeholders regarding a comprehensive resolution to strengthen the Company’s balance sheet and position the business for long-term success. Alan Masarek, Avaya’s CEO, said, "We are pleased to remain engaged in constructive discussions with all of our financial stakeholders to enhance our capital structure, increase liquidity and accelerate our investment in innovative products and solutions. Avaya benefits from an iconic brand, massive partner ecosystem and a truly global footprint, and we are confident the steps we are taking are in the best interest of our business and our stakeholders." Avaya announced that Jill Frizzley has been appointed to its board of directors, effective immediately. Frizzley is a corporate governance expert with over two decades of experience serving on boards and advising on financial restructuring and mergers and acquisitions. Frizzley was nominated to Avaya’s board by RingCentral (RNG), pursuant to their strategic partnership. The company remains committed to a strategic partnership with RingCentral.