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AVID PRESIDENT/CEO TO STEP DOWN
|July 16, 2007
Krall will be
available as a consultant to the company during the transition period. He has
served Avid in these positions for the past seven years.
Commenting on behalf of the board of directors, current
chairman Pamela Lenehan, said, "David has been instrumental in
transforming Avid Technology's business - and keeping it at the forefront
of the digital media revolution. He has helped direct the company's efforts to
revitalize its post production business; secure a leadership position in
broadcast news production; grow its audio business through market expansion and
product development; and enter the consumer video and audio markets through
acquisition. His dedication and loyalty to Avid have been unwavering - and we
thank him for establishing a rich foundation upon which the company can build
an even brighter future."
Hawthorne currently serves as CEO of the financial advisory
and investment firm, Clerestory LLC, and has been a member of the Avid board of
directors since 1997. She was the chief financial officer of Continental Cablevision, Inc. from 1992 to 1996 and became an
executive vice president at MediaOne when Continental Cablevision merged with
US West Inc.