Avid appoints new CFO

Avid appoints new CFO
Published: 12 December 2016 - 3:30 a.m.
By: Digital Production Middle East Staff

Avid has appointed Brian E. Agle as senior VP and chief financial officer, effective today.

Reporting to Avid chairman, president and CEO Louis Hernandez, Jr. and based in the company’s headquarters in (Boston), Agle will oversee the global finance and accounting organization, as well as the corporate development and investor relations functions.

As an experienced and operationally oriented financial executive in the technology and software sectors, and with a history of successfully completing transformations with a strong discipline in cost and cash control, Agle will be joining the Avid executive team at an important time as the company nears the completion of its own transformation, and begins to enter its planned growth phase in mid-2017.

Before joining Avid, Agle served as an operating Advisor at Francisco Partners, a leading global private equity firm focused on technology, and was responsible for leading the finance and accounting best practices across the firm’s more than 30 portfolio companies. Prior to joining Francisco Partners, Agle served as chief financial officer at Rocket Software, an enterprise-software development company, where during his tenure he directed the successful acquisition and integration of several companies and asset purchases. Before joining Rocket, he was senior vice president and CFOr for Activant Solutions, a business management software company. Previously, Agle spent 14 years at Novell Inc. where he operated in several financial leadership roles including VP, CFO of global field operations with financial responsibility for the $1 billion business. Agle began his career with Ernst & Young and is a licenced CPA (inactive) in California, with both a bachelor’s degree in accounting and a master’s of accountancy from Brigham Young University.

“Brian is a seasoned financial executive with extensive experience leading global financial organizations in technology and software businesses with a history of leading and completing business transformations, and a strong discipline in cost and cash management,” said Louis Hernandez, Jr., chairman, president and chief executive officer of Avid. “His experience in enterprise software and recurring revenue models such as SaaS business models makes him an ideal fit as Avid increasingly shifts its own business to more cloud-based subscriptions and enterprise software models.”

Hernandez added: “As we conducted the search process it was important that we found the right individual to both assist us in the completion of our transformation in Q2 2017, and contribute into the future as we transition to a focus on growth in the second half of 2017 and beyond. Brian has the right profile to help the company make this transition successfully.”

“It is clear to me that Avid has an incredible brand, a committed team, supportive and engaged clients, and has continued its industry-defining innovation once again with its Avid Everywhere platform strategy,” said Brian E. Agle, Avid’s incoming senior vice president and chief financial officer. “While company transformations are never easy, I’ve been impressed with the progress they’ve made on this ambitious transformation and can see the pieces coming together. I look forward to helping the Avid team drive to the end of the transformation and shift to a focus on growth, earnings and cash flow.”


 

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