Avid Technology’s Board of Directors Unanimously Elects
BURLINGTON, Massachusetts, May 30, 2022 (GLOBE NEWSWIRE) – Avid® (Nasdaq: AVID), the innovative leader in media technology for cloud-based content workflows, announced today that its The Board of Directors has unanimously elected John P. Wallace as President, effective immediately. This election is the result of Peter M. Westley’s decision to step down as CuriosityStream Inc.’s Chief Financial Officer. Mr. Westley will continue his advisory service to Avid as a director.
This election elevates Mr. Wallace is the current CEO, and was appointed in 2017. He is a veteran of the media and entertainment industry with more than 30 years of experience, having served as chairman and CEO of Deluxe Entertainment Services Group and above. , with NBCUniversal as president of operations and technical services and also as president of the chain’s television-owned television division. Since retiring in 2019, Mr. Wallace has remained active in the industry and today serves on the board of Linius Technologies, an early-stage technology company focused on video virtualization.
“I am confident that John Wallace will provide strong leadership on the board. His innate understanding of the media and entertainment industry landscape will ensure that we can continue to help guide Avid in achieving its vision and strategic goals,” he said. dir Peter Westley. “I am proud that Avid’s board has been deeply committed to supporting the transformation and growth of the company during my tenure as chairman and I look forward to helping boost the momentum to continue as the board’s director.” .
“Avid and our shareholders have benefited from the extremely effective collaboration between the board, under Peter Westley, and our company’s management team,” said Jeff Rosica, CEO and President of Avid. “Avid is grateful to Peter for his leadership on the board since 2018, a period of tremendous positive improvement in the company’s financial performance trajectory. We now warmly welcome John Wallace to his new role as Chairman of the Board. together with great confidence as we continue to pursue the company’s strategic vision and execute our profitable growth strategy. “
“I am very grateful to Peter Westley for his many contributions to Avid’s board and the progress the company has made during his leadership. I am pleased that we will continue with his experience and influence to remain on the board,” he said. John Wallace, chairman of the board of Avid. “I am excited to lead Avid’s board of directors and continue our collaboration with the management team to continue to grow as one of the leading media and entertainment technology companies.”
Editor’s note: Visit https://www.avid.com/press-center/media-library/ for high-resolution headline photos of Avid’s Board of Directors and Executive Leadership.
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