President and CEO of Avid Jeff Rosica to Depart

Jeff Rosica is set to step down from his position as CEO and President of Avid in the first half of 2024, concluding a six-year tenure in the role. This decision follows the recent acquisition of the video and audio editing software company by private equity firm STG for £1.1 billion. Rosica, in conjunction with STG, will be involved in the recruitment process for his successor.

Rosica, who joined Avid in 2013 and assumed the role of CEO in 2018, has a background of senior roles at Grass Valley for over a decade, preceded by his work at Philips.

In a LinkedIn post, Rosica shared his personal decision with the Avid team during a quarterly all-hands company meeting. He expressed that the timing for his early retirement aligns with the transformative progress, positive momentum, and strong market position achieved at Avid. Under STG’s ownership, the company is poised for even greater growth and success. Rosica believes it’s the opportune moment for a new CEO to lead the next phase of the company’s journey.

While continuing as CEO for a few more months, Rosica will collaborate with STG to ensure a smooth transition and recruit his replacement. He emphasized the excitement and opportunities ahead for Avid and expressed gratitude for being part of a legendary brand in media technology. Rosica acknowledged the honor of serving as CEO for nearly six years and highlighted the privilege of working with Avid’s exceptional team, customers, and partners. He plans to stay actively involved until the transition is complete, extending his support to execute Avid’s strategic plan.

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