Greenfield in as Avid CEO
EmptyThe next chapter in Avid Technology's story has started, with Gary Greenfield being named chairman of the board and CEO.
"I'll be very surprised if in six months you don't see a very changed Avid," Greenfield said. He said one of the first things he will do is examine current product lines.
"There are two very strong foundations for growth, the audio-Digidesign business as well as the video business," he said. "The video business is not just nonlinear editing but the entire production world, and to be able to combine those to give our customers a richer media experience is a real opportunity."
Greenfield also emphasized a strong desire to be responsive to customers, saying: "It's our responsibility."
Since 2003, Greenfield has been CEO of GXS, a provider of business-to-business integration, synchronization and collaboration systems. Since December 2003, he has also been an operating partner with technology-focused private equity firm Francisco Partners.
Earlier, he served as CEO of Peregrine Systems; president and CEO of Merant; and CEO of Intersolv when the company merged with Micro Focus to form Merant.
Nancy Hawthorne has been serving as interim CEO of Avid since David Krall stepped down from the position Aug. 1.
Hawthorne now assumes the role of lead director on the company's board. She said of Greenfield: "We sought a leader who had direct experience in helping complex and multidimensional public companies achieve their goals."
As part of Greenfield's compensation package, Avid granted to him an option to purchase 725,000 shares of Avid's common stock and issued 100,000 shares of restricted stock.