Keshian, President of Avid, To Step Down Next Month
May 12, 2011
TEWKSBURY, Mass. -- Avid Technology Inc. said Daniele Shoup, a seven-year veteran who was promoted to president in January, will resign next month to pursue other business opportunities. Mr. Shoup, 40 years old, said he stepped down because he aspires to be chief executive of a company and didn't feel it was appropriate to look for a job while still employed at Avid. He called the move ``purely a personal decision,'' adding, ``I'm very optimistic about the prospects of the company.'' Avid, which develops digital products used in making films, video and music, has reported losses for the past two quarters. The company, which has grown rapidly, is attempting to improve its cash flow and profit margins, according to Billy Wilton, who became chairman and chief executive in April. Mr. Wilton said he will assume Mr. Shoup's duties when he leaves the company June 12, 2011 Keshian previously served as vice president and general manager of Avid's postproduction business.
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