Avid terminates Hernandez, names Rosica CEO
February 26, 2018

Avid terminates Hernandez, names Rosica CEO

BURLINGTON, MA — Avid Technology’s board of directors has appointed Jeff Rosica as chief executive officer, effective immediately. The board has also terminated the employment of former CEO Louis Hernandez, Jr., due to violations of company policies related to workplace conduct. In addition, Hernandez has resigned from his position on board, and Nancy Hawthorne has been elected chairman of the board.

Rosica, who joined Avid in early 2013, has more than 30 years of experience in broadcast, media and entertainment. Prior to his role as president, he served as senior VP, chief sales and marketing officer for the company.

“Jeff’s deep experience as an industry expert coupled with his impressive knowledge of Avid’s business and strategy make him the natural choice to lead the company,” says Hawthorne.

“I am honored and excited for this opportunity to lead Avid through this important moment in the company’s history,” adds Rosica. “The outlook for Avid is strong, and I look forward to working with the leadership team, the board and our incredibly talented employees as we execute on our strategic priorities and continue our journey to be a best-in-class company and leader in our industry.”

With the assistance of independent external legal counsel, a special committee comprising independent members of the board of directors conducted a thorough investigation into allegations of improper, non-financially related workplace conduct by Hernandez. After reviewing the findings, the board of directors unanimously concluded that the findings warranted immediate termination of his employment.

“The Board is committed to the company’s core values and to upholding an environment of the utmost respect and integrity,” says Hawthorne. “We remain confident in the strategy and the long-term business plan of the company.”