- Share this article on Facebook
- Share this article on Twitter
- Share this article on Email
- Show additional share options
- Share this article on Print
- Share this article on Comment
- Share this article on Whatsapp
- Share this article on Linkedin
- Share this article on Reddit
- Share this article on Pinit
- Share this article on Tumblr
Avid, the maker of popular film editing and sound postproduction tools widely used in Hollywood, has terminated its CEO, Louis Hernandez, Jr., citing “violations of company policies related to workplace conduct.”
“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 Mr. Hernandez. After reviewing the findings of the special committee’s investigation, the board of directors unanimously concluded that the findings warranted immediate termination of Mr. Hernandez’s employment,” the company announced Monday.
The board has named company president Jeff Rosica as Avid’s new CEO. The industry vet joined Avid in 2013 after a lengthy tenure at broadcast equipment manufacturer Grass Valley. Hernandez has also resigned from his position on the Avid board of directors, and Nancy Hawthorne has been elected board chairman.
“The board is committed to the company’s core values and to upholding an environment of the utmost respect and integrity. We remain confident in the strategy and the long-term business plan of the company,” Hawthorne said in a statement.
Added Hawthorne of Rosica: “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.”
Sign up for THR news straight to your inbox every day
More from The Hollywood Reporter
Florence Pugh Says She Chopped Off Her Own Hair for ‘A Good Person’: “Found it Really Liberating”
Zachary Levi Says He Doesn’t Blame Dwayne Johnson for the Nixed Post-Credits Scene in ‘Shazam! Fury of the Gods’
Jeff Goldblum Confirms Role in ‘Wicked’ Movie Musical, Talks “Very Good” Witches Cynthia Erivo, Ariana Grande
How a ‘Pooh’ Slasher Flick May Have Tipped Hong Kong Towards Greater Beijing Censorship