Avid, the renowned maker of the Media Composer editing system and ProTools audio post production tool, has announced the appointment of Wellford Dillard as its new CEO. Dillard will be taking over from Jeff Rosica, who will be staying on in an advisory capacity during the transition period. This leadership change comes on the heels of Avid being acquired for $1.4 billion by an affiliate of private equity firm STG last fall.
Prior to joining Avid, Dillard served as the CEO of Marigold, a marketing SaaS company, bringing with him over two decades of experience in the software industry. He has also held CFO roles at companies such as Opower and GetWellNetwork. In a statement, Dillard expressed his excitement about leading Avid during this critical time for the industry, emphasizing the company's commitment to innovation and customer satisfaction.
The management team at STG, Avid's parent company, praised Dillard's leadership skills and track record in driving growth, highlighting his valuable experience in the software sector. They also extended their gratitude to Jeff Rosica for his contributions to Avid and his assistance in ensuring a smooth transition.
Rosica, who joined Avid in 2013 and rose to the position of CEO in 2018, expressed confidence in Dillard's ability to steer the company towards continued success. He described Dillard as the right individual to lead Avid into the future and expressed optimism about the company's prospects under his guidance.
The industry is eagerly watching as Avid, under Dillard's leadership, navigates its strategic goals and embarks on its next phase of growth. With a strong focus on technology innovation and customer-centric solutions, Avid is poised to maintain its position as a leader in the postproduction industry.
