February 26, 2018 / 1:25 PM / 3 months ago

BRIEF-Avid Technology Announces Appointment Of Jeff Rosica As CEO

Feb 26 (Reuters) - Avid Technology Inc:

* AVID TECHNOLOGY ANNOUNCES APPOINTMENT OF JEFF ROSICA AS CHIEF EXECUTIVE OFFICER AND TERMINATION OF LOUIS HERNANDEZ, JR.

* ‍HERNANDEZ HAS ALSO RESIGNED FROM HIS POSITION ON AVID BOARD OF DIRECTORS​

* SAYS NANCY HAWTHORNE APPOINTED CHAIRMAN OF THE BOARD

* AVID TECHNOLOGY - ‍BOARD TERMINATED EMPLOYMENT OF FORMER CEO LOUIS HERNANDEZ DUE TO “VIOLATIONS OF COMPANY POLICIES RELATED TO WORKPLACE CONDUCT​”

* ‍BOARD “UNANIMOUSLY” CONCLUDED THAT FINDINGS WARRANTED IMMEDIATE TERMINATION OF HERNANDEZ’S EMPLOYMENT​

* AVID TECHNOLOGY - SPECIAL COMMITTEE CONDUCTED INVESTIGATION INTO ALLEGATIONS OF “IMPROPER NON-FINANCIALLY RELATED WORKPLACE CONDUCT” BY HERNANDEZ

* ‍SPECIAL COMMITTEE CONDUCTED INVESTIGATION INTO “ALLEGATIONS OF IMPROPER NON-FINANCIALLY RELATED WORKPLACE CONDUCT” BY HERNANDEZ​ Source text for Eikon: Further company coverage:

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