Avid Technology appoints Hernandez as CEO
Avid Technology Inc. on Monday appointed Louis Hernandez as president and CEO of the digital audio and video technology company.
The company said Hernandez has a deep familiarity with Avid's customers, markets and products. Hernandez, 46, worked most recently as chairman and chief executive of Open Solutions Inc., a financial technology company, which was acquired in January by Fiserv Inc. He has been a member of the Avid board since 2008.
Hernandez succeeds Gary Greenfield, who voluntarily resigned as chairman, CEO and president of the company, according to a filing with the Securities and Exchange Commission. He will remain on Avid's board of directors.
Avid appointed George H. Billings, a director of the company, to replace Greenfield as chairman.
Shares of Burlington, Mass., company increased 17 cents to $7.70 in midday trading. Its shares have traded between $5.85 and $12.14 in the past 52 weeks.