IPC, a leading provider of unified trading communications solutions to the world’s top financial services firms, today announced that Lance Boxer has retired from his role as Chief Executive Officer. Neil Barua, a veteran technology industry executive, has been appointed as the company’s interim Chief Executive Officer.
The company has commenced a search for a permanent chief executive officer and will consider internal and external candidates. The leadership transition at IPC is effective immediately.
Mr. Boxer retired from the company after misrepresentations were discovered in the educational background included in his official company biography.
“I deeply regret misrepresenting my educational background and have concluded my retirement is in IPC’s best interest,” said Mr. Boxer. “I want to emphasize that my lapse in judgment was a personal mistake and my departure is wholly unrelated to the company’s operations and performance.”
Mr. Boxer added: “IPC is positioned for continued growth under the leadership of a highly talented management team. I wish the company and my colleagues’ great success going forward.”
“We thank Lance for his many contributions to IPC,” the company’s board said. “We remain confident in IPC’s performance and growth outlook under the company’s current management and the incoming senior leadership.”
Interim Chief Executive Officer Neil Barua previously served on the executive leadership team of telecommunications company Global Crossing and is currently an operating partner at Silver Lake, the global leader in technology investing.
IPC is a leading global provider of specialized communications solutions for the global financial trading community. With a 100-percent focus on this sector and over 40 years of expertise, IPC provides customers with integrated solutions that support traders and participants across the entire trade lifecycle including sell-side and buy-side financial institutions, inter- dealer brokers, liquidity venues, clearing and settlement firms, independent software vendors, corporate finance departments, financial information exchange providers and market data providers. IPC’s offerings include the first unified communications/application platform, award-winning hard and soft turrets, managed voice and data connectivity solutions and follow-the-sun service and support. IPC’s global reach extends to more than 60 countries – including a financial extranet of 5,000 on-net locations in over 700 cities and more than 115,000 turrets deployed worldwide. Headquartered in Jersey City, New Jersey, IPC has approximately 1,000 employees located throughout the Americas and the EMEA and Asia-Pacific regions.