Hernandez [pictured] succeeds former president and chief executive officer Gary Greenfield, who will remain on Avid’s board of directors.

Avid has announced that Louis Hernandez has been appointed president and chief executive officer by its board of directors.

Hernandez - who has been on the Avid board since 2008 - succeeds former president and CEO Gary Greenfield, who will remain on Avid’s board of directors.

Most recently, Hernandez was also chairman of the board and CEO of Open Solutions, Inc., a technology provider to financial institutions worldwide, which was acquired in Jan 2013 by Fiserv, Inc.

“Louis is a visionary, inspirational leader with a stellar track record of driving the operations and growth of technology companies in a variety of industries,” commented George Billings, speaking on behalf of Avid’s board. “As lead director, he spent years developing a deep familiarity with Avid’s customers, markets, and products that will allow him to quickly make a positive impact as chief executive.”

“It is an exciting opportunity to lead Avid at this very important juncture in the company’s history,” added Mr. Hernandez. “As the industry leader for more than 25 years, Avid continues to set the standard for non-linear-editing, media management, and collaboration in the audio, video, and broadcast markets. The company is well positioned for growth and global expansion in this fast-moving marketplace. It is exciting to be working with the Avid team, as we drive results and value for our customers, employees, and shareholders.”

Hernandez continued: “On behalf of the Avid community, I want to thank Gary Greenfield for his outstanding leadership and lasting contributions to Avid and our industry.”