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Another SeaChange CFO Resigns

Michael Bornak to Exit on May 31, as Anthony Dias Steps Up as Interim CFO 5/09/2013 5:04 AM Eastern

SeaChange International is once again on the prowl for a new chief financial officer.

The video software company announced Wednesday that CFO Michael Bornak has resigned, effective May 31, to accept a position at another publicly traded company. As a result, Anthony Dias, SeaChange’s chief accounting officer, has been promoted to senior vice president and will serve as interim chief financial officer while the company seeks a permanent CFO.

Bornak, the former CFO of Tollgrade Communications, joined SeaChange in January 2012, replacing Kevin Bisson, who left SeaChange to become CFO of Mercury Computer Systems

“I want to thank Mike for the many contributions he has made during his tenure with the company as we executed our transformation strategy,” said SeaChange CEO Raghu Rau, in a statement. “Mike has tirelessly commuted to our Massachusetts headquarters from Pittsburgh for over a year and I am pleased that he will be able to spend more time with his family in the future.  I am delighted to welcome the appointment of Tony, whose qualifications and extensive experience within SeaChange and in the software industry position him well to continue SeaChange’s forward momentum.”

Bornak is the latest high level SeaChange exec to leave in recent months. Former SeaChange CTO and 15-year company Steve Davi left SeaChange late last year to become SVP of Buffalo, N.Y.-based software engineering at Web portal and TV Everywhere services firm Synacor.

September