Rob Glaser, founder and former chief executive of RealNetworks, is returning to the company as interim CEO. He replaces Thomas Nielsen, who only took the top job last November. In a prepared statement, Glaser admits that Nielsen "wasn't the right fit," but rules out the possibility of a permanent return.
The ouster follows months of controversy at the aging content firm, first founded in 1995. Back in May, Real announced that it was setting up a $2 million compensation fund after customers were tricked into purchasing unnecessary media subscriptions on its site.
Following the announcement of his return, Glaser published a letter to Real staff as a public Facebook post. In the 300-word missive, he describes his two highest priorities as providing a forward strategy for the company and making Real cashflow positive again. A company meeting to discuss the shakeup will be held at the firm's Seattle headquarters on Monday.