Avid — the maker of the widely used Media Composer editing system and ProTools audio post production tool — named Wellford Dillard as its CEO, succeeding Jeff Rosica, who is staying with the company in an advisory role during the transition.
Dillard is moving into the postproduction business after serving as the CEO of Marigold, an omni-channel marketing SaaS.
The change of leadership was expected. Last fall, days after Avid was acquired for $1.4 billion by an affiliate of private equity firm STG, Rosica announced plans to retire.
Dillard brings two decades of experience in the software industry, having also held CFO roles at companies Opower and GetWellNetwork. He said in a released statement: “It is a critical time for the industry, as well as an important time for Avid, and I am excited to be leading this iconic organization. The company’s continued focus on innovative technology that can help its preeminent customer base deliver on their creative and business objectives will remain at the center of Avid’s focus as we deliver on the company’s strategic goals and next phase of growth.”
Said STG managing partner William Chisholm and principal Patrick Fouhy in a released statement: “[Dillard] has an exceptional background leading software businesses and bringing a wealth of valuable experience to Avid. His strong track record driving growth will be invaluable during this next phase of the company’s journey. In addition, we want to express our sincere gratitude to Jeff for his leadership and contributions to the company during his tenure as CEO and for his commitment in helping to ensure a successful transition prior to his retirement.”
Rosica joined the company in 2013 and was elevated to president in 2016 and CEO in early 2018 after then CEO Louis Hernandez Jr. was terminated for what Avid described as “violations of company policies related to workplace conduct.” Earlier, the industry vet had held various roles at broadcast equipment manufacturer Grass Valley.
“I’m excited about the future of Avid under Wellford’s leadership, and personally believe that he is the right individual at the right time to lead the company,” said Rosica in a statement. “It has been my honor to be the CEO of Avid over the past several years. I am confident that Wellford has what it takes to move the company forward and lead the team to even greater success in the years ahead.”