SeaChange names new CFO in latest management change

Peter Faubert

Multiscreen video technology firm SeaChange has appointed a new CFO, marking its second major executive change following the departure of CEO Jay Samit in April.

Peter Faubert joins as chief financial officer, senior vice president and treasurer, with global responsibility for finance, operations and facilities. He takes over from Anthony Dias, who resigned this week.

Faubert most recently worked as CFO for This Technology, a video ad solutions provider to cable, telco and broadcast television operators, which was acquired by Comcast in 2015.

He has more than 15 years of finance leadership experience, including roles at software and digital media companies such as mobile game publisher JNJ Mobile.

Commenting on the hire, SeaChange CEO Ed Terino said that Faubert’s financial management experience would “strengthen our senior management team and execute on initiatives to drive SeaChange to profitability and strategic growth”.

“On behalf of the Board, we would like to thank Tony Dias for his years of service to SeaChange and wish him the best of luck in his future endeavours.”

Earlier this year SeaChange announced the “termination of the employment” of previous CEO Jay Samit, at the same time as it reported a US$22.1 million (€19.4 million) operating loss for its fiscal fourth quarter.

The TV technology company made a simultaneous announcement accompanying its fiscal Q4 and full year 2016 results saying that chief operating officer Edward Terino would takeover the CEO role with immediate effect.

For full year 2016, SeaChange made an operating loss of US$48.2 million, from revenues of US$107.0 million.