RealNetworks' CEO receives $2 million severance

 
 

Little more than a year after taking the helm from founder Rob Glaser, RealNetworks president and CEO Bob Kimball announced his resignation. Another senior executive, Mike Lunsford, was named interim CEO as the company conducts a search for Kimball’s replacement.

As part of a severance package, Kimball receives more than $2 million and will remain a consultant for a period of 90 days. Kimball also agreed to retain RealNetworks secrets and not work for a competitor for at least 12 months.

No specific reason was given for Kimball’s departure, but Glaser told GeekWire that the decision was “voluntary.”

“After 12 amazing years at Real, it is time for me to find new challenges and opportunities,” Kimball said via news release. “I want to thank the Real team for their incredible work over the past 15 months – we’ve come a long way in a short time and I look forward to watching their success in the coming years.”