Avid boss Jeff Rosica steps down

Jeff Rosica (Source: Avid)

Avid Technolgies boss Jeff Rosica has revealed his plans to retire and step down as chief executive officer, following the recent acquisition of the company by private equity firm STG. 

Rosica first joined Avid in 2013 as senior vice president of worldwide field operations. In 2016 he was promoted as senior vice president, chief sales & marketing officer and was later appointed the company’s president the same year. In 2018 Rosicia replaced Louis Hernandez Jr as CEO who was sacked following company violations in the workplace.

During his tenure, Rosicia led the $1.4 billion sale of Avid to STG, which the company will operate under.

In a post on LinkedIn, Rosica said: “With all the transformational progress and good momentum that we’ve created together, I believe that now is clearly the optimal time for me to prepare for this move and transition at Avid. We’re innovating faster than ever, building on a strong market position, and poised for even greater growth and success under STG – Symphony Technology Group’s ownership. It’s an exciting place to be today with tremendous opportunities ahead, and I believe it’s the right time for a new CEO to lead the next phase of the company’s journey.”

“I’ve been incredibly fortunate to have the experience of being part of one of the legendary brands in media technology—and being the CEO for almost 6 years now is an honor and clearly the pinnacle of my career. One of the best parts has been getting to work with the amazing people that make up Team Avid and who make it so special, not to mention the terrific customers and partners who give us so much opportunity to help them reimagine this industry,” he added. “All that said, I’m not going anywhere too soon. I’ll be continuing as CEO for a few more months and helping to recruit my replacement in collaboration with STG, so we’ll have a smooth transition and stay right on course to help all our customers—and continue to execute Avid’s strategic plan.”