Avid hires Dillard as CEO following $1.4 bn sale to STG

Media technology provider, Avid, has appointed Wellford Dillard as chief executive officer (CEO), succeeding Jeff Rosica who announced his plans to step down and retire in November

Wellford Dillard and Jeff Rosica (Source: Avid)

Dillard joins the company with more than 20 years of experience in the software industry. He most recently served as the CEO of Marigold, provider of omni-channel marketing SaaS solutions. The new Avid boss also held CFO roles at various software companies including Opower and GetWellNetwork.

The company was acquired by private equity firm STG before the end of 2023 in a $1.4 billion transaction which Rosicia led during his tenure. The former CEO will stay at the tech firm in an advisor role during the transition and Avid will operate as a privately-held company.”

Commenting on Dillard’s appointment, William Chisholm, managing partner, and Patrick Fouhy, principal, of STG, said: “He has an exceptional background leading software businesses and brings a wealth of valuable experience to Avid.  His strong track record driving growth will be invaluable during this next phase of the company’s journey.  In addition, we want to express our sincere gratitude to Jeff for his leadership and contributions to the company during his tenure as CEO and for his commitment in helping to ensure a successful transition prior to his retirement.”

“I am privileged to join such a terrific team and significant technology leader in the Media & Entertainment industry. It is a critical time for the industry, as well as an important time for Avid, and I am excited to be leading this iconic organisation,” said Dillard. “The company’s continued focus on innovative technology that can help its preeminent customer base deliver on their creative and business objectives will remain at the center of Avid’s focus as we deliver on the company’s strategic goals and next phase of growth.”

“I’m excited about the future of Avid under Wellford’s leadership, and personally believe that he is the right individual at the right time to lead the company,” said Rosica. “It has been my honour to be the CEO of Avid over the past several years. I am confident that Wellford has what it takes to move the company forward and lead the team to even greater success in the years ahead.”