Daniel Keshian resigns as president of Avid Technology.TEWKSBURY, Mass.--(BUSINESS WIRE)--Aug. 29, 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) announced today the resignation of Daniel Keshian, its president, effective September 30, 1996. Mr. Keshian, who was formerly vice president and general manager of Avid's post-production business, was named president in January of 1996. He leaves his position to pursue other business opportunities. Bill Miller, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Avid, said, "Dan Keshian has made a tremendous contribution to Avid and his accomplishments are one of the primary reasons for the company's leadership position in digital media markets. His willingness to step in as president earlier this year and exercise leadership at a critical time in Avid's life is especially noteworthy. He has now indicated to me his desire to run his own show. We will miss him, but respect this desire and wish him continued success." Mr. Keshian stated, "My decision was purely personal. I decided some time ago that my goal was to be the CEO of a company and I am looking forward to meeting new leadership challenges. I strongly believe that Bill Miller has the vision, character, leadership ability and experience to bring Avid to the next stage of its growth and continue to build it as a world-class enterprise." Mr. Miller will assume responsibility for all operations of the Company. -0- Avid Technology "Avid" redirects here. For the "Advancement Via Individual Determination" educational program, see AVID. Avid Technology, Inc NASDAQ: AVID is an American company specializing in video and audio production technology; specifically, digital non-linear media editing (NLE) , Inc., headquartered in Tewksbury, Mass., is an international developer and supplier of comprehensive, all-digital solutions for capturing, creating, editing and distributing media. Avid's product line encompasses industry-leading nonlinear film, video and audio editing Audio editing is the process of taking recorded sound and changing it directly on the recording medium (analog) or in RAM (digital). Audio editing was a new technology that developed in the middle part of the 20th century with the advent of magnetic tape recording. , special effects special effects, in motion pictures, cinematographic techniques that create illusions in the audience's minds as well as the illusions created using these techniques. and image processing software for applications including television and film post-production, broadcast news, desktop video, multimedia and music production. CONTACT: Avid Technology, Inc. R. Scott Higgins, Investor Relations Investor relations The process by which the corporation communicates with its investors. 508/640-3221 Julie Miller, Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most 508/640-5454 or Schwartz Communications, Inc. Deirdre O'Connell, 617/431-0770 |
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