Avid makes senior changes

Avid makes senior changes

Published: WORLD

WORLD: Avid has announced a number of senior changes within the company. These appointments include a new CFO as well as several alterations to its executive leadership team.

Brian E Agle will become Avid’s senior vice president and chief financial officer. Reporting to Avid chairman, president and CEO, Louis Hernandez Jr, and based in the company’s headquarters Mr Agle will oversee the global finance and accounting organisation, as well as the corporate development and investor relations functions.

‘Brian is a seasoned financial executive with extensive experience leading global financial organisations in technology and software businesses with a history of leading and completing business transformations, and a strong discipline in cost and cash management,’ said Mr Hernandez. ‘His experience in enterprise software and recurring revenue models such as SaaS business models makes him an ideal fit as Avid increasingly shifts its own business to more cloud-based subscriptions and enterprise software models. As we conducted the search process it was important that we found the right individual to both assist us in the completion of our transformation in Q2 2017, and contribute into the future as we transition to a focus on growth in the second half of 2017 and beyond. Brian has the right profile to help the company make this transition successfully.

‘It is clear to me that Avid has an incredible brand, a committed team, supportive and engaged clients, and has continued its industry-defining innovation once again with its Avid Everywhere platform strategy,’ said Mr Agle. ‘While company transformations are never easy, I’ve been impressed with the progress they’ve made on this ambitious transformation and can see the pieces coming together. I look forward to helping the Avid team drive to the end of the transformation and shift to a focus on growth, earnings and cash flow.

Ilan Sidi, who served as interim CFO, will help support the transition of the finance, accounting and investor relations functions to Mr Agle over the next several weeks, and will resume his role as the vice president of Human Resources for the company. ‘On behalf of the board, the executive leadership and Avid team as a whole, I wish to thank Ilan for serving as the interim CFO these past several months,’ stated Mr Hernandez. ‘Ilan’s background and experience as a public company CFO allowed us to take the needed time to find the right individual to assume the CFO role during this important time in the execution of the company’s strategy.’

With the other strategic changes, Jeff Rosica has been named president of the company, responsible day-to-day for management of all customer-facing functions globally including sales, marketing, professional services, services delivery and customer support. Prior to this announcement, Mr Rosica served as senior vice president, chief sales and marketing officer for the company. He will also continue to serve in a strategic capacity as part of the senior executive team.

Tom Cordiner has been promoted to senior vice president, global sales for Avid, taking responsibility for all commercial activities for the company including managing the sales and pre-sales teams located around the world.

Further related to these announced executive changes, the company announced that Peter Ennis has been promoted to senior vice president, global services delivery and customer support, taking responsibility for managing the company’s professional services, services delivery, customer care and training/education activities worldwide.

‘The promotion of these three executives is ideal to help the company through its next phase of growth,’ said Mr Hernandez. ‘Each of these individuals has unique knowledge and skills in strategically aligning with our clients, and all have the resident understanding of the tremendous pressures that large media enterprises, creative teams and independent media professionals are faced with today.’

www.avid.com

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