After CEO ouster, SeaChange names new CFO
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SeaChange International has named Peter Faubert as the company's new CFO.
SeaChange International has named Peter Faubert as the company’s new chief financial officer just three months after the board ousted the company’s former CEO Jay Samit.
The Acton multi-screen company made the announcement Thursday that Peter Faubert will replace Anthony Dias as the company’s CFO and senior vice president and treasurer. Dias had been with the company since 2013 and resigned Wednesday, according to SeaChange. As part of his severance, Dias will receive $157,749.96, six months worth of his yearly salary, in addition to being eligible for a portion of his annual bonus and his performance stock award of $189,300, according to a Securities and Exchange Commission filing.
According to that filing, Faubert will receive a base salary of $300,000 per year and receive a one-time equity award of 100,000 stock options and be eligible for an annual cash bonus with a target value of $180,000.
Faubert most recently served as CFO for This Technology, Inc., a Denver-based video advertising solutions provider to cable that was acquired by Comcast Corporation in 2015. In addition to finance and accounting responsibilities, he oversaw that company's human resources, strategic planning, legal and facilities functions.
Faubert’s appointment follows the replacement of former CEO Jay Samit in April. Although the company did not give a reason for the change, the announcement came as SeaChange posted a fiscal 2016 operating loss of $48.2 million, nearly double the losses from the previous year.
WBJ Web Partners
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