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Hulu CEO Jason Kilar and CTO Rich Tom to step down this quarter

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hulu plus 1020 stock
hulu plus 1020 stock

Longtime CEO of Hulu, Jason Kilar, will be stepping down from his position this quarter, according to a statement from the company. Additionally, the company's CTO, Rich Tom, will be leaving this year. It is not yet clear exactly when the executives will be leaving the company, or who will be replacing them, but Kilar insists that they will be staying on long enough to "ensure there is ample runway to manage this transition."

Hulu has had a rough go financially, but it seemed like things were turning around for the streaming video company, as it recently reported that it had over three million paid users of its Hulu Plus service at the end of 2012. In his farewell blog post, Kilar notes that the company added over 200,000 new subscribers in just the past seven days, likely spurred on by people that received new tablets during the holiday gift-giving season. Still, that pales in comparison to Netflix, which boasts over 25 million users. Kilar promises that more information will be released as dates and other pertinent details concerning his departure become available. He did not indicate what his plans will be once he officially leaves Hulu.