InterTrust's president resigns

InterTrust Technologies, which makes software that protects songs and videos from being illegally copied, said its president, David Ludvigson, has resigned effective Nov. 1 to pursue other interests. The Santa Clara, Calif.-based company said it has appointed David Lockwood, the company's executive vice chairman and a board member, to replace Ludvigson. Prior to joining the digital rights management company, Lockwood worked for Reuters Greenhouse, a venture capital fund, as well as Goldman Sachs. In August, InterTrust said it would cut 12 percent of its work force in an effort to reduce costs.