Polycom CEO resigns after expenses questioned

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Associated Press

Posted on July 23, 2013 at 4:00 PM

Updated Tuesday, Jul 23 at 9:01 PM

SAN JOSE, Calif. (AP) — Videoconferencing equipment maker Polycom Inc. says its CEO has resigned after the board found "irregularities" in his expense submissions.

Polycom said Tuesday that Andrew Miller resigned on Friday and accepted responsibility for the expense reports, which the company did not detail.

Polycom says amounts involved would not alter any of the company's financial statements and didn't involve other employees. Miller had also served as president and a director of the San Jose, Calif., company.

Shares of Polycom are off nearly 6 percent in after-hours trading.

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