Premiere Global Services’ president of global operations is resigning.
June 30 will mark Lee Provow’s last day at the conferencing and business support services provider. Provow will leave with a $500,000 cash severance and 22,500 shares of restricted stock. Atlanta-based Premiere Global’s shares closed at $13.82 on Monday.
CTO David Guthrie will take over most of Provow’s responsibilities. His base salary will increase to $400,000, not including bonuses.
Provow is not allowed to work for a Premiere Global competitor, or start his own rival business, for one year. He also cannot discuss confidential information for two years.
Premiere Global recently reported first-quarter net income of $12 million, compared with $8.9 million during the year-ago period.