updated 09:30 pm EDT, Tue July 3, 2012
Parting amicable, founder Ron Glaser appointed interim CEO
RealNetworks has amicably parted ways with CEO Thomas Nielsen after less than a yearless than a year of service in the position. Both Nielsen and the board of directors agreed that the position wasn't the right fit for the executive. Rob Glaser has been appointed interim CEO of the streaming media company, effective immediately.
Glaser, believed that Nielsen was a good fit for the company during Nielsen's appointment in November of 2011. Glaser said he had "a lot of adjacency and commonality in the understanding of technological trends, market dynamics, that Thomas brings to the party."
The RealNetworks board has begun a search for the next CEO. Glaser said that he is not a candidate for the permanent CEO position.
Under Nielsen's tenure, RealNetworks sold a large video playback patent portfolio to Intel for $120 million, including its premier codec, RealPlayer. In addition, a $2 million fund was established on May 24 for compensation of subscribers who were overcharged between January 1, 2007 and December 31, 2009. RealNetworks' earnings from media sales remained static.