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Polycom Announces New $100 Million Share Repurchase Program
Posted on Monday, May 6, 2013
SAN JOSE, Calif. - May 06, 2013: Polycom, Inc. (Nasdaq: PLCM), the global leader in open, standards-based unified communications and collaboration (UC&C), today announced that its board of directors approved a new share repurchase program authorizing up to $100 million in share repurchases, with an expiration date of May 2, 2014.  This amount is in addition to the approximately $39 million remaining as of March 31, 2013 from a prior authorization.
 
“Polycom recently launched multiple new products that we believe will extend our leadership position in the industry.  This announcement illustrates our confidence in the long-term growth of the company and our commitment to enhancing shareholder value,” said Eric Brown, Chief Operating Officer and Chief Financial Officer of Polycom.
 
The number of shares to be purchased and the timing of purchases will be based on the level of Polycom's cash balances, general business and market conditions, the dilutive effects of share based incentive plans, and other factors, including alternative investment opportunities and working capital needs.
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Douglas Fearing- Co-Founder / President

A graduate of DeVry Institute of Technology, Doug has been in the Technology industry since 1976 and actively oversees Fearing’s daily operations. Along with his wife, Lois, and three others, Doug started Fearing’s in a 600 square-foot facility in Portage, Wisconsin. In the 25 years since, the company has grown to over 30 employees with offices in Madison and Milwaukee, Wisconsin. Doug likes to say he’s a “TV Technician with a dream� going back to his history with the family’s original business-Fearing’s TV and Appliance.

Doug values time with family, watersports, hiking, snowshoeing and skiing. In addition to being a devoted member of his church, Doug serves as Board President for Kinship Mentoring of Columbia County, Board member of Schools for Haiti and Scripture Chair of the Gideons-Portage camp.

Lois Fearing- Co-Founder/Accounting, Human Resources

A graduate of MATC, Lois oversees Fearing’s daily book keeping along with various HR responsibilities.

Along with Doug, Lois is deeply connected to community outreach, serving as a Board member and Fundraising Committee Chairperson for Kinship Mentoring of Columbia County. She also serves on the Schools for Haiti Fundraising committee. In addition, Lois’ ongoing passion and commitment to provide care for the elderly comes from her 10-year history of working in a Reedsburg, Wisconsin Nursing home.

Lois enjoys singing, hiking, sunny days on the pontoon, and spending time with her 4 grandchildren.

Ehren Tresner-VP of Technology and Innovation

Ehren drives Fearing’s technology by continually seeking out trends to enhance capabilities while supporting Sales, Engineering and Installation teams. Throughout his years with Fearing’s, Ehren’s talent and vision have joined forces to create a wide variety of projects and strategic solutions that exceed expectation.

Ehren loves music, family time, movies, nature, sustainability efforts and electric vehicles.

Ben Voeck-Director of Commercial AV

With 10 years with Fearing’s and over twice that long in the industry, Ben continues to lead, coordinate, and develop the Commercial AV team.

By consistently delivering an outstanding experience and outcome, Ben contributes to the Fearing’s legacy of long-lasting partnerships that truly make a difference. Whatever the Commercial AV need may be, Ben and team deliver at the highest level.

Ben is an avid fisherman and photographer. He enjoys coaching his sons and other youth.

Chris Matson-Senior VP of Sales

Chris has been with Fearing’s for 20 years and in the industry for over 2 decades. As a Certified leader in Sales Acceleration and trained in EOS (Entrepreneurial Operating Systems), Chris successfully utilizes his skills to lead the Fearing’s Salesforce. Chris and team are motivated and driven to develop new client partnerships while continuing to reinforce loyal long-term relationships with ongoing Service excellence.

Married for 19 years with 3 children, Chris enjoys skiing, hiking, fishing, boating, hunting, camping and golf. He’s also been actively involved as a Youth Football and Softball coach for his family and others.