Avid names new CFO

<%=company1%> has appointed former Internet executive Paul Milbury as its new Chief Financial Officer (CFO), filling a position vacated by the resignation of William Flaherty earlier this year.

As the company's new CFO, Milbury will have his hands full helping to lead Avid back to financial stability. After a rough 1999, which saw the Tewksbury, MA-based company's revenues tumble and the resignation of several senior officials, 2000 has been relatively calm for the company, as it re-organizes and focuses on new technologies including streaming media. Milbury will report to Avid CEO David Krall.

"Avid has sound fundamentals and strong market presence," said Milbury. "I'm joining at a time when the company is gaining momentum in new markets, and I'm eager to contribute to Avid's long-term growth and stability."

Milbury joins Avid from iBelong.com, Inc. of Waltham, MA, where he was the company's CFO for the past year. Prior to iBelong.com, Milbury was with Juniornet Corp. of Boston, where he was CFO and chief operating officer. Prior to that, Milbury spent 19 years at Digital Equipment Corp. (now Compaq Computer Corp.).

Edited by Tom Butts