Avid CEO Jeff Rosica Announces His Retirement...

[The Weed]

Retirement time.

Wonder whose next?

[BScout]

Yeah. Crazy coincidence that. Private company closes deal days before, CEO out.
I'm less interested in who is out and more in who is coming onboard to steer the ship. Maybe someone less driven by (the now gone) Board to convert everything to subscriptions for bonus pay?

[Michael Carnes]

The timing is indeed "interesting". But let's take a minute to recognize Jeff for righting a foundering ship.

[Darryl Ramm]

The exit is totally expected. Jeff droid has done his job (and yes was way much better than many of the lackluster past senior leadership at Avid). He cleaned up and sold a perpetually struggling public company to a PE firm. They get to put their man in place and do what they want since they outright own the company. Few CEOs stick around after an acquisition like this.

STG is an unusual smaller PE firm in that they have a large outsourcing focus... cough *to themselves* in their India based operation. Avid's existing/past outsource providers are direct competitors with STG Labs. Which uh makes stuff interesting. So the two things will be who is the new CEO and how much is the focus going to be moving existing outsourcing work and more to STG India.

If the focus was on offshoring more development that could be very disruptive, and I suspect would make it harder to hire a good CEO... if anybody thinks their role is largely moving development to STG India... not a great CEO position. Hopefully STG will hire leadership able to address the many issues Avid still has and focus on doing what is needed. And hopefully we won't see more Avid USA engineering talent lost. I'd hope to see a new CEO who understands the media/entertainment industries as well as technology and hope they address those obvious concerns early on.

[DonaldM]

For the time being, I choose to remain cautiously optimistic that things will go in the right direction and us users will be well taken care of.