The Avid board of directors has appointed Louis Hernandez as the new president and CEO of the company. Outgoing president and CEO, Gary Greenfield, will remain on Avid’s Board.

Hernandez has been a member of the Avid Board since 2008. He was also chairman of the board and CEO of financial institutions tech provider Open Solutions.

George Billings, speaking on behalf of Avid’s Board, said: “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. 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,” said 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.”

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