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Section 1: 8-K (8-K)

Document
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 17, 2018

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 17, 2018, director Maria Martinez voluntarily chose to resign as a member of the board of directors of the Company ("Board") effective as of April 17, 2018 and the Board accepted her resignation. There were no disagreements between Ms. Martinez and the Company.
Furthermore, the Board appointed Mr. Guido Karel Maria Jouret, 52, as a member of the Board, which appointment occurred on April 17, 2018, immediately following Ms. Martinez' resignation. Mr. Jouret will also serve on the Strategy Committee of the Board of Directors.
In connection his appointment to the Board of Directors, Mr. Jouret (i) was granted a restricted stock award for Plantronics common stock having a fair market value of $37,500 pursuant to Plantronics amended and restated 2003 Stock Plan and Outside Director Compensation Policy, (ii) will receive a standard quarterly non-employee director cash retainer of $12,500, (iii) will receive a standard quarterly cash retainer for his membership on the Strategy Committee of $1,875, (iv) is eligible to receive a restricted stock award for shares of Plantronics common stock having a fair market value of $150,000 on the date of Plantronics' next annual meeting of stockholders, and (v) will enter into a standard director indemnification agreement with Plantronics.

A copy of the press release announcing the resignation and appointment of directors is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits

The following exhibits are furnished as part of this Current Report on Form 8-K:
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. 

April 19, 2018
PLANTRONICS, INC.
 
 
 
 
By:
/s/ Pam Strayer
 
Name:
Pam Strayer
 
Title:
Senior Vice President & Chief Financial Officer



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Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


Plantronics Announces Guido Jouret as a New Board Member
and Resignation of Maria Martinez

Santa Cruz, Calif. - April 19, 2018 - Plantronics (NYSE: PLT), an audio pioneer and communications technology leader, today announced the appointment of Guido Jouret to its Board of Directors effective April 17, 2018. Mr. Jouret brings more than 25 years of leadership experience across a variety of technology sectors including software, services, networking technology, and hardware. Mr. Jouret has served as Chief Digital Officer of ABB, Inc., an electrical and automation engineering company since October 2016.

“We are very excited to welcome Guido to the Plantronics Board of Directors,” said Bob Hagerty, Chairman of the Board, Plantronics. “Guido’s expertise incubating high-profile, new growth businesses in Cisco, Envision and Nokia aligns perfectly with Plantronics growth initiatives and strategic opportunities. We look forward to his guidance as we continue to expand the Company’s business.”

During his 20 years at Cisco from 1994 to 2014, Mr. Jouret spent more than seven years in its Emerging Technology group helping to create numerous new internal businesses including TelePresence and, in his final role as General Manager, the Internet of Things Business Unit. At Envision where he served as President-Digital Platform from 2014 to 2015, he was responsible for their new energy management division. From April 2015 to October 2016, Mr. Jouret was the Chief Technology Officer at Nokia where he spearheaded the launch and development of the consumer healthcare division.

Mr. Jouret holds a B.Sc. in Electrical Engineering from Worcester Polytechnic Institute and a PhD in Computing from Imperial College (University of London).

Additionally, the Company is announcing that Ms. Martinez has taken a senior leadership position with Cisco Systems, Inc. and has decided to resign from the Plantronics’ Board effective April 17, 2018. “Maria was a wonderful asset to Plantronics as she helped to steer our go to market strategy over the last two years since joining the Board,” stated Mr. Hagerty. “We wish her the best in her new and challenging role as Executive Vice President and Chief Customer Experience Officer with Cisco.”

About Plantronics
Plantronics is an audio pioneer and a global leader in the communications industry. We create intelligent and adaptive solutions that support our customers’ most important needs: experiencing and facilitating simple and clear communications while enjoying distraction-free environments. Our solutions are used worldwide by consumers and businesses alike, and are an optimal choice for open office environments. From Unified Communications and customer service ecosystems, to data analytics and Bluetooth headsets, Plantronics delivers high-quality communications solutions that our customers count on today, while relentlessly innovating on behalf of their future. For more information visit Plantronics.com.

Plantronics is a registered trademark of Plantronics. The Bluetooth name and the Bluetooth trademarks are owned by Bluetooth SIG, Inc. and are used by Plantronics under license. All other trademarks are the property of their respective owner

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INVESTOR CONTACT:
Will Zelver Manager, Investor Relations & External Reporting
(831) 420-3168

MEDIA CONTACT:
George Gutierrez Sr. Director, Global Communications & Content Strategy
(831) 458-7537


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