SEATTLE — Lawrence Jacobson, president of RealNetworks Inc., has resigned after three years on the job, the company said Wednesday.
Jacobson resigned, "effective immediately, to pursue other opportunities and spend more time with his family," the digital media company said in a statement.
The announcement came as RealNetworks posted a loss of $10.4 million, or 6 cents a share, for the first quarter — double what it lost in the first quarter of 2003.
Jacobson will continue to work temporarily for the company as a strategic adviser, chairman and chief executive Rob Glaser said.
"Larry has been a valued member of our leadership team and will continue to be a personal friend and great friend to the company," Glaser said. "We thank him for his many contributions, and wish him and his family all the best."
Jacobson, who oversaw RealNetworks’ international operations, said the company’s "solid financial momentum" allowed him to step aside.
He spent a year as president and chief operating officer of Ticketmaster before joining RealNetworks. Before that, he was with News Corp. for nine years in various positions, including president of Fox Television.
RealNetworks named Dan Sheeran, senior vice president of marketing, as senior vice president for international operations in Jacobson’s stead. The company has no immediate plans to name a new president, Glaser said.
Shares of RealNetworks closed down 51 cents Wednesday at $6.09 on the Nasdaq Stock Market. Shares were up 6 cents in extended trading.
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