Founder Rob Glaser has stepped down as CEO of RealNetowrks. He will remain chairman of the board of directors. Robert Kimball has been appointed president and acting chief executive officer as well as a member of the board of directors. "After nearly 16 years, I've decided it's time for me to step away from day-to-day operations," said Glaser in a statement. "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."
Bob Kimball joined the company in 1999 and has been a member of the senior executive team since 2003. He most recently served as general counsel and executive vice president of corporate development at Real."
"I look forward to the opportunity ahead," said Mr. Kimball. "Real has a great team in place, a strong financial position, close customer relationships and fantastic products. We plan to transform Real into a more focused and more profitable company that delivers value to our shareholders."
On Glasser's departure: "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."