Jeff Rosica, the CEO of Avid, a prominent figure in the broadcast technology sector, has declared that he will retire in early 2024. This decision comes shortly after Symphony Technology Group (STG) successfully acquired Avid for $1.4 billion, transitioning it to a privately-held company.
Rosica’s leadership at Avid spans over a decade, including a six-year tenure as its CEO, during which he significantly contributed to the company’s development and success. Prior to joining Avid in 2013, he played a crucial role at Grass Valley, guiding it through various changes in ownership. He ascended to the position of President at Avid in 2016 and was appointed as CEO in 2018.
In a statement shared on LinkedIn, Rosica expressed his thoughts on his upcoming retirement: “I want to let my network in on something that I shared with the Avid team during our quarterly all-hands company meeting earlier today—and that is the news of my personal decision that I’m planning to take an early retirement from Avid in the first half of 2024.
“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 honour 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. A once in a lifetime privilege for sure!
“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. Until then, I hope to see many of you out on the road real soon!”
News source: https://www.avid.com/
