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Louis Hernandez is the new chief executive of Avid Technology

Avid Technology Inc., a Burlington company that makes equipment for the editing and processing of music and video, said Monday that its board of directors has appointed Louis Hernandez as president and chief executive, effective today.

Hernandez succeeds former president and chief executive officer Gary Greenfield, who will remain on Avid’s board, the company said in a press release.

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Hernandez has been a member of the Avid Board since 2008. Most recently, he was also chairman and chief executive of Open Solutions Inc., a technology provider to financial institutions worldwide, which was acquired in January by Fiserv Inc.

Last summer, Avid said it would shed 350 jobs, or 20 percent of its workforce, as it abandons consumer product lines that have performed poorly in recent years. The company’s worldwide employment was projected to fall to about 1,400 from about 1,750, the company said then.

One or more of the company’s solutions were used on all nine Best Picture nominees for the upcoming Academy Awards, including “Argo,” “Lincoln,” “Life of Pi,” and “Zero Dark Thirty,” Avid said.

Chris Reidy can be reached at
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