0000914025-13-000018.txt : 20130415 0000914025-13-000018.hdr.sgml : 20130415 20130415171928 ACCESSION NUMBER: 0000914025-13-000018 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20130415 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20130415 DATE AS OF CHANGE: 20130415 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PLANTRONICS INC /CA/ CENTRAL INDEX KEY: 0000914025 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 770207692 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12696 FILM NUMBER: 13762064 BUSINESS ADDRESS: STREET 1: 345 ENCINAL ST CITY: SANTA CRUZ STATE: CA ZIP: 95061-1802 BUSINESS PHONE: 8314587828 MAIL ADDRESS: STREET 1: 345 ENCINAL STREET STREET 2: PO BOX 1802 CITY: SANTA CRUZ STATE: CA ZIP: 95061-1802 FORMER COMPANY: FORMER CONFORMED NAME: PI PARENT CORP DATE OF NAME CHANGE: 19931025 8-K 1 a8-kceoleaveofabsence.htm CURRENT REPORT ON FORM 8-K 8-K CEO Leave of Absence
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange act of 1934


Date of Report (Date of earliest event reported):
  April 14, 2013

PLANTRONICS, INC.

(Exact name of Registrant as Specified in its Charter)

Delaware
1-12696
77-0207692
(State or Other Jurisdiction of Incorporation)
 (Commission file number)
(I.R.S. Employer Identification No.)

345 Encinal Street
Santa Cruz, California 95060
(Address of Principal Executive Offices including Zip Code)

(831) 426-5858
(Registrant's Telephone Number, Including Area Code)


Not Applicable
(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On April 14, 2013, Ken Kannappan, the President, Chief Executive Officer (principal executive officer) and director of Plantronics, Inc. (the “Company”) began a temporary medical leave of absence to address a treatable form of cancer and Pamela Strayer was named Acting Chief Executive Officer (principal executive officer). Ms. Strayer, 44, has served as the Senior Vice President and Chief Financial Officer of the Company since July 2012. Ms. Strayer holds a bachelor's degree in Business Administration from Ohio State University and is a Certified Public Accountant in California and Illinois. Prior to joining the Company, Ms. Strayer spent seven years at Autodesk, Inc., a leader in 3D design, engineering and entertainment software, in a variety of roles with increasing responsibilities, most recently as its Vice President Finance, Principal Accounting Officer. Prior to Autodesk, Ms. Strayer spent five years at Epiphany, Inc., a customer relationship management software company acquired by SSA Global Technologies in 2005, the last three years of which as Epiphany's Vice President of Finance and Corporate Controller.  

A copy of the press release issued by the Company on April 14, 2013 is furnished as exhibit 99.1.

Item 9.01 Financial Statements and Exhibits

The following exhibits are furnished as part of this report.
Exhibit Number
Description
 
 




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

Date:  April 15, 2013
PLANTRONICS, INC.
 
 
 
 
By:
/s/ Pamela Strayer
 
Name:
Pamela Strayer
 
Title:
Senior Vice President and Chief Financial Officer



EX-99.1 2 pressrelease-ceoleaveofabs.htm PLT PRESS RELEASE Press Release - CEO Leave of Absence

PRESS RELEASE
 
INVESTOR CONTACT:
Greg Klaben
Vice President of Investor Relations
(831) 458-7533
MEDIA CONTACT:
Genevieve Haldeman
Vice President of Global Communications
(831) 458-7343

Plantronics President and CEO Taking Temporary Leave of Absence
Company CFO Pamela Strayer Named Acting CEO

SANTA CRUZ, CA - April 14, 2013 - Plantronics, Inc. (NYSE: PLT) today announced that president and CEO Ken Kannappan will be taking a temporary medical leave of absence to address a treatable form of cancer, starting immediately.  He is expected to be on leave for approximately four months.  During this time, Ken will stay involved in directing the company to the extent practical. Plantronics CFO Pamela Strayer will serve as the acting CEO during Ken’s absence. He will remain a member of the board of directors during his leave.

"It is in my best interest and that of Plantronics that I take this time to focus on my health while Pam and the rest of our excellent executive team continue to execute our strategy," said Ken. "I am committed to actively engaging in the business as my health permits and plan to return at the conclusion of my treatments."

"We commend Ken and support his request to take this leave and wish him the best as he focuses on his health," said Marv Tseu, chairman of the board, Plantronics. "The board has complete confidence in the strong management team that Ken has built. Pam and the team are well positioned to continue to implement the Plantronics strategy and run day-to-day operations."

Pam joined Plantronics in July 2012 as senior vice president and chief financial officer. She is responsible for all aspects of the company’s financial management in addition to managing the company’s IT, legal and investor relations organizations.

As previously scheduled, Plantronics will report fourth quarter and fiscal year 2013 earnings on May 7, 2013.  

# # #




Safe Harbor

This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to (i) Mr. Kannappan will be taking a temporary medical leave of absence to address a treatable form of cancer; (ii) he will remain on the Board of Directors during his absence; (iii) that Ms. Strayer and the rest of the executive team will continue to execute on our strategy and implement day to day operations; and (iv) that Mr. Kannappan plans to return at the conclusion of his treatments; in addition to other matters discussed in this press release that are not purely historical data.  We do not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

Forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those contemplated by such statements.  Among the factors that could cause actual results to differ materially from those contemplated are:

Micro and macro economic conditions in our domestic and international markets;
our ability to realize our UC plans and to achieve the financial results projected to arise from UC adoption could be adversely affected by the following factors: (i) as UC becomes more widely adopted, the risk that competitors will offer solutions that will effectively commoditize our headsets which, in turn, will reduce the sales prices for our headsets; (ii) UC solutions may not be adopted with the breadth and speed in the marketplace that we currently anticipate; (iii) the development of UC solutions is technically complex and this may delay or inhibit our ability to introduce solutions to the market on a timely basis and that are cost effective, feature rich, stable and attractive to our customers; (iv) as UC becomes more widely adopted we anticipate that competition for market share will increase, and some competitors may have superior technical and economic resources; and, (v) our plans are dependent upon adoption of our UC solution by major platform providers such as Microsoft Corporation, Cisco Systems, Inc., Avaya, Inc., Alcatel-Lucent, and IBM, and we have a limited ability to influence such providers with respect to the functionality of their platforms, their rate of deployment, and their willingness to integrate their platforms with our solutions, and our support expenditures may substantially increase over time due to the complex nature of the platforms developed by the major UC providers as these platforms continue to evolve and become more commonly adopted;
failure to match production to demand given long lead times and the difficulty of forecasting unit volumes and acquiring the component parts and materials to meet demand without having excess inventory or incurring cancellation charges;
volatility in prices from our suppliers, including our manufacturers located in China, have and could negatively affect our profitability and/or market share;
fluctuations in foreign exchange rates;
with respect to our stock repurchase program, prevailing stock market conditions generally, and the price of our stock specifically;
the bankruptcy or financial weakness of distributors or key customers, or the bankruptcy of or reduction in capacity of our key suppliers; and,
additional risk factors including: interruption in the supply of sole-sourced critical components, continuity of component supply at costs consistent with our plans, the inherent risks of our substantial foreign operations, and problems that might affect our manufacturing facilities in Mexico.

For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission on May 25, 2012 and other filings with the Securities and Exchange Commission, as well as recent press releases. These filings can be accessed over the Internet at http://www.sec.gov/edgar/searchedgar/companysearch.html.

Plantronics and the logo design are trademarks or registered trademarks of Plantronics, Inc.  The Bluetooth name and the Bluetooth trademarks are owned by Bluetooth SIG, Inc. and are used by Plantronics, Inc. under license.  All other trademarks are the property of their respective owners. 


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