On Friday after the stock market had closed Screenvision announced that Travis Reid is stepping down from his position as CEO as a result of a personal decision to return home to California and pursue an undisclosed new career opportunity. The decision came just days after Screenvision’s successful Upfront event for advertisers.
Reid, an investor in the company, will remain an active member of the board of directors, where he will continue to advise on the transition and strategic initiatives. The board is engaged in a search for his successor.
"We are very grateful for Travis's many accomplishments and company leadership while CEO at Screenvision from the expansion of digital distribution across 100 percent of our national network to increased innovation for the company and category,” said Andrew Howard, partner of Shamrock Capital. “We are pleased that Travis will continue to contribute through an involved role on the board. Coming off of a successful upfront event by our sales and marketing teams, Screenvision is pacing significantly ahead of last year and is well poised for continued success.”