RealNetworks CEO Resigns After 8 Months, Not A “Right Fit” Founder Says

The soap opera continues at the streaming media company. Thomas Nielsen, a former exec at Adobe Systems, took the top job in November — about eight months after the previous CEO, Robert Kimball, abruptly left in the middle of a restructuring. He lasted about a year. Nielsen and the board “mutually agreed that the CEO position wasn’t the right fit,” company founder Rob Glaser says today. He stepped in as Interim CEO but the company says he “is not a candidate for the permanent CEO position.” According to an SEC filing, Nielsen can collect severance of $37,500 a month for 18 months and $168,299 in a lump sum. He’s also subject to a one-year non-solicit, non-disparagement, no-hire and non-competition agreement. RealNetworks shares are up 17% in 2012, but are down 36% for the last 12 months. Here’s the company’s announcement. (more…)

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