Wednesday, December 19, 2007

Avid finally hires a CEO!

About 6 months after the "retirement" of former CEO David Krall, Avid has hired a new CEO. Gary Greenfield is new to the TV/Film industry having spent recent time as owner of Francisco Partners, a technology-focused private equity firm. Greenfield will apparently get a $900K a year salary, plus a $600,000 signing bonus. (Isn't public company information fun!)

a little further research into Francisco Partners indicates that they are
"the world's largest technology-focused buyout fund". So, the question is: has Greenfield been hired to orchestrate a sale to another company? Harris seems be a likely candidate as they have been buying companies left and right recently, plus they have virtually no current presence in the NLE market.

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