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News Breaks | | | | February 11, 2013 | | 09:12 EDT |  | AVID | Avid Technology announces resignation of CEO Gary C. Greenfield
Effective February 11, Gary G. Greenfield, the Chairman of the Board, CEO and President of Avid Technology voluntarily resigned as Chairman of the Board, CEO and President. Greenfield will continue to serve as a member of the Board of Directors. Effective upon Greenfield's resignation, the Board of Directors appointed Louis Hernandez, Jr., a director of the company, to also serve as the company's CEO and President. In connection with his appointment, Hernandez resigned from his position as chairman of the Nominating and Governance Committee of the Board of Directors and as a member of the Compensation Committee of the Board of Directors and will no longer serve as the company's lead independent director. There are no arrangements or understandings between Hernandez and any other persons pursuant to which he was selected as CEO and President. | |
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