Avid Terminates CEO Louis Hernandez, Jr. for Misconduct, Rosica Appointed CEO

The Board of Directors at Avid voted on February 25, 2018 “to terminate the employment of Louis Hernandez Jr., Chief Executive Officer, effective immediately, due to violations by Mr. Hernandez of the Company’s policies related to workplace conduct,” according to a filing with securities regulators.

As a result of this termination under his employment agreement, Mr. Hernandez is no longer the Company’s Chief Executive Officer. Hernandez has also resigned from his position on the Avid Board of Directors and Nancy Hawthorne has been elected Chairman of the Board.

Avid said the termination of Hernandez is “due to violations of Company policies related to workplace conduct.”

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