Avid Technology, Inc. has announced
that Gary Greenfield has been named chairman of the board and chief
executive officer (CEO) effective immediately. Greenfield succeeds
Nancy Hawthorne, who has served as interim CEO since August 1 and will
assume the role of lead director on the company’s Board.
Greenfield has been CEO of GXS since 2003, a leading worldwide
provider of business-to-business integration, synchronization and
collaboration solutions. Since December 2003, he has also been an
operating partner with Francisco Partners, a leading technology-focused
private equity firm.
Previously, he served as CEO of Peregrine Systems where he managed
the restructuring of their business; president and CEO of MERANT; and
while CEO of INTERSOLV, they merged with Micro Focus to form MERANT. He
has experience growing businesses both organically and through
acquisition, managing development, marketing and operations, and
serving diverse customers from small businesses to the Fortune 500.
Based on Gary Greenfield’s background – none of it in video post or
broadcast – it would seem that his key strengths to Avid are in
restructuring or “turn-around”. Much of his compensation is dependent
on share price increases and other key performance indicators. This
should be positive for Avid.