Special effects company Discreet Logic Inc is to kick its current CEO, Richard Szalwinski, upstairs, and has begun the search for a new CEO. Montreal, Canada-based Discreet, which has just backed out of a deal to acquire video software house MGI Software Corp alleging breach of contract (CI No 3,417), says that Szalwinski, the company founder, will remain as chairman. A spokesperson denied that that the abortive acquisition had any bearing on Szalwinski’s decision. However, the failure of the deal is expected to delay Discreet’s entry into the lucrative consumer video and digital photo editing market – a market that grew 239% in 1997 according to market researcher, Dataquest Inc (CI No 3,389). Discreet’s products were used to create digital imagery for Hollywood blockbuster such as Godzilla, Titanic and Independence Day. Szalwinski will stay on as CEO until a successor is found.
