David Krall Steps Down

In a surprising development, Avid’s board of directors announced this morning that CEO David Krall will step down at the end of July. Nancy Hawthorne, former chairman of the board, will serve as interim CEO until a replacement can be found. Current chairman Pamela Lenehan thanked Krall in a carefully worded press release.

Avid plans to announce its second quarter numbers on Thursday. A conference call for investors is scheduled for Thursday at 5 pm Eastern time. Avid’s stock has fallen over 40% since reaching a high in early 2005 (chart).

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This entry was posted on July 16, 2007 at 7:05 am and is filed under Avid. You can subscribe via RSS 2.0 feed to this post's comments. You can skip to the end and leave a response. Pinging is currently not allowed.

One Comment on “David Krall Steps Down”

Liam Says:

July 16, 2007 at 12:18 pm
Sounds kind of omnious for those numbers… Maybe the thought was to leave rather than be shown the door…

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