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SeaChange Loses A Board Member

Light Reading
LR Cable News Wire Feed
Light Reading
1/25/2013
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ACTON, Mass. -- SeaChange International (Nasdaq: SEAC), a leading global multi-screen video software innovator, today announced that effective January 25, 2013, Mr. Peter Feld has resigned from the SeaChange Board of Directors. “Upon joining the SeaChange Board of Directors in December of 2010, my goal was to work collaboratively with my fellow directors to significantly improve financial performance, strategically re-position the Company to focus on the core software business, and to create and enhance value for the benefit of all shareholders,” commented Peter Feld. “Since that time we have accomplished a great deal. Under the leadership of Chief Executive Officer Raghu Rau, we have significantly strengthened the management team, exited two non-core businesses, reduced costs, and developed market-leading products for multi-screen video and advanced advertising solutions that are positioned for future success." “On behalf of our management team and the entire Company, I thank Peter for his valuable service and contributions to SeaChange and its shareholders,” stated Raghu Rau, CEO, SeaChange. “He has been an integral part of our strategic and financial transformation and has helped to put the Company on a path to long-term, profitable growth and value creation.” SeaChange International Inc.

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