I feel sorry for Avid employees who've built the company. Sad to see the new execs have no idea what Avid is, where Avid's going, no guidance for analysts, and spending $2M to buy a strategy 'cause they don't have one. They even have no shame to admit they won't have a clue until next CC in July.
You may be on to something, as I have been told by numerous customers and employees that the Senior Management Team has done little more than admit their ignorance and hire their friends and former business colleagues (none of whom have Media/Entertainment or A-V experience). They actually hired a - get this - Vice President of Customer Success! You want your customer's to be successful? Then do them (and yourself, the current employees, and the shareholders) a favor and bring back people that already know the industry and can help you - NOW! I have heard that there are several former Avid employees that would love to go back to the company to help the turnaround - but they are getting stonewalled!!! Should be interesting!
Worse than bringing in people who don't know the industry, they are having a party with the cash in the bank. None of these people are moving to headquarters they all fly in for the week, so none are committed to fixing it. They are spending cash like there is no tomorrow
Their new VP of "Customer Success" (I get a kick out of that title - translated I think it means: VP Of "we don't really have a position for you, but your our friend and we're bringing you in anyway")....hails from Peregrine Systems (among other companies).....can't find any Media and Entertainment or Audio-Visual experience, but hey, I'm sure she's qualified (laughing hysterically). Changing my rating to a SELL on that appointment! Unreal! Almost as much Nepotism as The Commonwealth Of Massachusetts!!! Let's hire more people that DON'T KNOW THE INDUSTRY!! Great move!