SeaChange searching for new CEO
Juan Pablo Conti ©RapidTVNews | 03-12-2011
Multi-screen video software specialist SeaChange has announced that, due to the retirement of its founder, chairman and CEO Bill Styslinger, it is looking for a permanent replacement.
Until the company finds the right candidate, Raghu Rau, a telecoms industry veteran and current board member, will serve as interim CEO.
The position of chairman of the board went to Thomas Olson, a former CEO of Katz Media Group and of National Cable Media.
During the first half of this year, media reports talked about a possible acquisition of SeaChange by broadband network equipment maker Arris. However, such operation never materialised and now SeaChange is keen on dispelling any future speculation.
"After an extensive review of strategic alternatives, the board has decided that it is in the best interest of shareholders to continue as a standalone publicly traded company," a SeaChange statement read.
"The company is focused on significantly improving and streamlining operations, and the board will continue to evaluate alternatives for certain non-core businesses."