Avid Technology names William J. Miller chairman and CEO.TEWKSBURY, Mass.--(BUSINESS WIRE)--April 8, 1996--Avid Technology, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AVID) today announced that William J. Miller William Jennings Miller (March 12, 1899 - November 22, 1950) was a U.S. Representative from Connecticut. Born in North Andover, Massachusetts, Miller attended the public schools. He was graduated from Cannon's Commercial College, Lawrence, Massachusetts, in 1917. has been appointed chairman and chief executive officer of the Company. Mr. Miller was most recently chairman and chief executive officer of Quantum Corporation, one of the world's leading mass storage companies. Under Mr. Miller's leadership, Quantum's revenues grew from $1.1 billion to $3.4 billion in the company's last fiscal year, ended March 1995. His vision is credited with driving the strategic changes that enabled Quantum to mature rapidly from a company known primarily for supplying hard disk drives for personal computers to a recognized leader in the mass storage industry with a broad product line and a strong technology portfolio. Prior to joining Quantum, he spent 11 years at Control Data Corporation, where he held several senior management positions, including executive vice president and president of information services See Information Systems. and chief executive officer of Imprimis IMPRIMIS. In the first place; as, imprimis, I direct my just debts to be paid. See Item. , a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of CDC See Control Data, century date change and Back Orifice. CDC - Control Data Corporation . He was instrumental in directing the turnaround of Imprimis, a billion-dollar hard disk drive company prior to its acquisition by Seagate. Mr. Miller holds a BS degree and a JD degree, both from the University of Minnesota (body, education) University of Minnesota - The home of Gopher. http://umn.edu/. Address: Minneapolis, Minnesota, USA. . Daniel A. Keshian, president of Avid, commented, "Bill Miller brings a strong combination of experience and proven success in managing a large, rapidly growing business. His related industry experience and his leadership style will fit well within Avid; the senior management team and I look forward to working with him." Mr. Miller will replace William S. Kaiser as chairman of Avid's Board of Directors, a position Mr. Kaiser has held since 1991. Mr. Kaiser, a general partner of Greylock Management Corporation, will remain on Avid's board. Mr. Miller will also replace Curt A. Rawley as chief executive officer; Mr. Rawley will remain vice chairman of Avid's Board of Directors. -0- Avid Technology, Inc., headquartered in Tewksbury, Mass., is an international developer and supplier of all-digital solutions for capturing, creating, editing and distributing digital media on multiple platforms. Joined through mergers with Digidesign, Elastic Reality and Parallax Software, Avid's product line encompasses industry-leading nonlinear film, video and audio editing, special effects and image processing software, as well as networking, server and storage technologies for applications such as television and film post production, broadcast news, desktop video, multimedia and music production. Avid is a registered trademark of Avid Technology, Inc. CONTACT: R. Scott Higgins, Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. 508/640-6789 or Patrice Burkett, Corporate Communications Manager 508/640-3669 |
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