SeaChange terminates CEO, appoints new CEO

Multi-screen video products and services specialist SeaChange International has named Edward Terino as Chief Executive Officer, effective April 6th, immediately following the SeaChange board of directors’ termination of the employment of prior CEO Jay Samit. Terino had previously served as SeaChange’s Chief Operating Officer, beginning June 2015.

It made the announcement as it revealed fourth quarter fiscal 2016 revenue of $27.2 million and US GAAP loss from operations of $22.1 million, or $0.66 per basic share for the fourth quarter of fiscal 2016, compared to fourth quarter fiscal 2015 revenue of $31.3 million and US.

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