SeaChange lost another member of its old guard with the departure of president Yvette Kanouff. The company said she will not be replaced and that the title of president will be eliminated.
In January, CFO Kevin Bisson left the company, replaced by Michael Bornak, who had previously been with Tollgrade Communications. In December, Chairman and CEO William Styslinger retired. Taking Styslinger's place was Raghu Rau, a former executive with Motorola and a member of an investment group that has a stake in the company. Rau holds the title of CEO.
Kanouff indicated via her Facebook page that leaving was her choice: "I did it. It was a tough decision."
In a statement released by the company, Kanouff said: "I'm proud that I played a significant role in establishing SeaChange as a leader in video-on-demand worldwide and in transitioning from a hardware-centric to a software-centric company. I think SeaChange is well positioned for the future; however, it is the right time for me to move on, and I look forward to my next endeavor."
Kanouff joined the company in 1997, serving in a series of positions, culminating in chief strategy officer and then president.
The company earlier this week announced a program of cost reduction measures, including layoffs in administration, designed to lead to $5 million in annualized savings. The decision to not replace Kanouff, the company said, is "part of its ongoing plan to reduce costs and streamline the business."
"Over the past few months, Yvette has been discussing her desire to pursue other interests, and we support that and wish her well. We sincerely thank Yvette for her years of dedication to SeaChange, her technical knowledge and her contributions toward building the company's video-on-demand business," said Rau.