Avid Announces Major Enhancements to Executive Team to Prepare for Grow Phase

Media industry veterans named to key executive roles to strengthen and align customer-facing activities and drive a more customer-centric focus as the company prepares for the end of its transformation and a shift towards its growth phase in 2017

Burlington, MA, December 5, 2016 - Avid (Nasdaq: AVID) today announced several key changes to the company's executive leadership team related to refinement of its organizational structure in order to drive a stronger customer-centric focus of the company, and in anticipation of completing its transformation by the end of Q2 2017 and preparing to shift towards its growth phase in the second half of 2017.

A key part of this strengthening of the team is the announcement that Jeff Rosica has been named President of the company, responsible day-to-day for management of all customer-facing functions globally including Sales, Marketing, Professional Services, Services Delivery and Customer Support. As a growth-oriented president focused on revenues and the overall go-to-market to best optimize growth prospects for the company, Mr. Rosica will also continue to serve in a strategic capacity as part of the senior executive team to help drive the company's execution on the next phase of its business strategy. Mr. Rosica will report directly to Louis Hernandez, Jr., Avid Chairman and Chief Executive Officer.

Prior to this announcement, Mr. Rosica served as senior vice president, chief sales and marketing officer for the company. Mr. Rosica, who joined Avid in early 2013, is a well-known industry veteran with more than 30 years' experience in broadcast, media and entertainment.

I'm excited to recognize Jeff's significant contributions to our transformation strategy and the traction we've had on Avid Everywhere with this important promotion, said Louis Hernandez, Jr. As we look to complete the transformation and move to a growth mode, his deep domain knowledge, global industry relationships, and shared vision for the future of the media industry make him uniquely qualified for this role. I'm excited to see him shape our future more directly.

It's been an honor to build on the company's long heritage of technology innovation, strong brand and impressive global customer base. Over the past three years, we've created the industry's most open, extensible and efficient platform specifically designed for media, said Jeff Rosica, president of Avid. With some of the industry's best and most comprehensive tools across the workflow, combined with our flexible commercial, licensing and deployment options, Avid is well positioned to help our clients navigate the business opportunities and challenges facing our industry today.

As Mr. Rosica steps into a broad role, the company also announced that Tom Cordiner has been promoted to Senior Vice President, Global Sales for Avid, taking responsibility for all commercial activities for the company including managing the sales and pre-sales teams located around the world.

Mr. Cordiner, who joined Avid in 2012, is an experienced international technology sales executive with extensive background in broadcast, media and telecom. Prior to this new role, he was responsible for leading Avids EMEA sales organization, successfully driving growth across its major markets in the region. Before joining Avid in 2012, Mr Cordiner was vice president, sales and business development at Technicolor, responsible for the international markets in the broadcast, media and telecoms sectors.

As we exit the company's transformation next year and enter the next phase of the company's growth strategy, I'm looking forward to evolving our go-to-market plans, sales organization structure and commercial strategies to best address the opportunities we see in the market today, said Tom Cordiner, senior vice president, global sales at Avid. Our efforts are sharply focused on helping our clients around the globe, from the largest global media companies to independent creative professionals, address both the market opportunities and business challenges facing them today.

Further related to these announced executive changes, the company announced that Peter Ennis has been promoted to Senior Vice President, Global Services Delivery and Customer Support, taking responsibility for managing the company's professional services, services delivery, customer care and training/education activities worldwide.

Mr. Ennis has over 20 years' senior executive experience in the broadcast and media industry, with strong knowledge and skills in managing large technical and operational teams in highly complex, technical environments. Prior to this new role, he was most recently responsible for leading Avid's APAC business as vice president of sales, Asia Pacific region. Before re-joining Avid in 2014, Mr. Ennis was executive director of technology and broadcasting at Al Jazeera Media Network in Qatar. Prior to that, he served as general manager of technology at Television New Zealand (TVNZ) and director of operations, technology and digital at TV3 Group in Ireland.

Having been a customer myself for many years, I understand only too well the increasingly dynamic nature of our industry and the need for customer-centric delivery and support, as well as more comprehensive professional and managed services. I will be laser-focused to ensure that we enable our valued customers to deliver compelling content and drive efficiency and value, said Peter Ennis, senior vice president, global services delivery and customer support at Avid. I look forward to meeting our key clients around the world in order to better align our services offerings and customer support activities to best meet their business needs.

I'm happy to promote two outstanding executives who have extensive industry expe

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