Transforming a Troubled Legacy Company into a Leader in the New Digital Era
Introduction
A digital tsunami is transforming industries and challenging both established and new players.
One such established player, Avid Technology, dominated the market for video editing and music mixing. Early on, every movie studio had “the Avid.”
But Avid, which is still beloved by creative professionals, saw its relevance questioned as digitization created an entirely new business ecosystem. This new ecosystem shifted the industry’s strategic issues and generated problems beyond Avid’s capacity.
Under the leadership of Chairman and CEO Louis Hernandez Jr., Founder, Managing Director, and CEO Black Dragon Capital℠, of which Avid was a portfolio company, Avid transformed into a radically new kind of company laser-focused on the industry’s new pain points…