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SOFTWARE INDUSTRY NEWS |
RealNetworks' founder Rob Glaser exits as CEO |
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Digital entertainment services company RealNetworks, Inc., has announced that founder Rob Glaser has chosen to step down as CEO, even as he remains chairman of the board of directors. RealNetworks also announced that Robert Kimball was appointed president and acting chief executive officer by its Board of Directors, which also appointed Kimball to the Board. "After nearly 16 years, I've decided it's time for me to step away from day-to-day operations," said Glaser. "I'm grateful to all of our stakeholders – customers, partners, shareholders, and most of all, employees – for the support and commitment they've given to RealNetworks. I remain committed to the company and look forward to continuing to serve in my capacity as board chairman." Glaser founded Progressive Networks in February 1994, which pioneer digital audio and video technology for the Internet. Over the years, and with him at the helm, Real grew into a multinational company providing digital entertainment products and services to hundreds of millions of consumers around the world. "Few people have changed an industry and created a unique experience for billions of people," said Jonathan Klein, a board member of RealNetworks and the co-founder and CEO of Getty Images. "Rob has changed the face of digital entertainment with RealNetworks' streaming media products. At the same time Rob has had a profound impact on politics and philanthropy. I'm sure he will continue to do this extraordinary work as well as spending time with his wife and young children. We are grateful for all he has done for the company, the industry and employees, and are pleased that he will continue to serve on the board." Glaser's successor Bob Kimball joined the company in 1999 and has been a member of the senior executive team since 2003. Most recently, he served as general counsel and executive vice president of corporate development at Real. "In the decade he's been at Real, Bob has proven to be an outstanding business executive and leader, and under his leadership the company won't skip a beat," said Glaser. "Our board has great confidence in Bob, and he will be a candidate for the permanent CEO position as part of a formal search process that will begin soon." Shares of the company soared 19.69% to $4.62 on 6.51 million shares after the announcement, the highest levels the stock has traded since November 2008. |
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