SeaChange International (Nasdaq: SEAC), which earlier this week announced job cuts as part of a $5 million cost-reduction plan, today announced its president, longtime SeaChange exec Yvette Kanouff, was leaving the company. SeaChange said it had no plans to replace her, part of an ongoing drive to cut costs.
"Over the past few months, Yvette has been discussing her desire to pursue other interests, and we support that and wish her well," said CEO Raghu Rau in a statement. "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."
Kanouff joined SeaChange in 1997. She was named president in March 2010, stepping up from her role as chief strategy officer.
Kanouff, in a statement, said she was "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," she said.
Kanouff is the latest in a series of executive changes at the Acton, Massachusetts-based company.
In November, founder Bill Styslinger, who also was chairman of the board and chief executive, retired. Rau, a board member at the time, was named interim CEO, and Thomas Olson, former CEO of Katz Media Group and of National Cable Media--and a former SeaChange lead director--was named chairman of the board.
In January, meanwhile, CFO, Kevin M. Bisson resigned. He was replaced by Tollgrade Communications veteran Michael Bornak.
Last spring, the company reportedly was in talks to be acquired by Arris Group, but SeaChange decided to remain a standalone company.
"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," the company said in a statement then, adding that it was "focused on significantly improving and streamlining operations."
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