In the wake of its announcement that CEO David Krall is leaving the company, Avid Technology reported it will cut 150 jobs -- primarily in the company's video business unit. The reduction in force is part of the company's strategic realignment that will also transit the video server engineering from Mountain View, CA, to existing Avid facilities in Edmonton, Canada and Tewksbury, MA.
Avid also announced the appointment of Joel Legon as vice president and chief financial officer. Since joining Avid in March 2006, Legon had served as vice president and corporate controller. He had additionally served as acting chief financial officer since March 2007.
The company reported a boost in revenues for the three-month period ending June 30, 2007. Revenues are $225.3 million compared to $222.2 million from the same period last year.