SEATTLE, July 14,
2022 /PRNewswire/ --
RealNetworks, Inc. (Nasdaq: RNWK), today announced
an orderly CFO transition plan.
Christine Chambers, Real's
current CFO, will be leaving Real on July
31, 2022 to pursue another opportunity. To fill her
role, the Company announced the hiring of Brian McClain. Mr. McClain joined the Company as
a full-time strategic advisor on July
6th and will succeed Ms. Chambers as Interim CFO and
Treasurer on August 1, 2022.
"On behalf of everyone at Real, I want to thank Christine for
her many contributions to the Company and for the thorough and
professional way she is handling this upcoming transition," said
Rob Glaser, Real's CEO. "I wish
Christine the best in her future endeavors."
Mr. Glaser continued, "We are excited to have Brian McClain join our senior team as Interim
CFO and Treasurer. Brian is a very experienced and accomplished
leader and CFO with 25 years of financial and business leadership
roles in technology and manufacturing companies, including several
stints and businesses that are highly aligned with Real's growth
initiatives. Brian has already started working with Christine and
the senior team at Real and I expect a very smooth transition."
Mr. McClain most recently served as President
and CFO of Pelco, Inc., a leading
computer security company, where
he managed customer
care, supply chain and purchasing, engineering development, finance,
human resources, IT, and sales. Prior to that, as CFO of LOUD
Audio, Brian directed all financial, accounting, and IT functions
for a $75 million professional audio
and music products company. Prior to LOUD Audio, Mr. McClain worked
in a number of manufacturing related industries including paper and
packaging, as well as Aerospace where he held progressive levels of
responsibility at the senior level.
Commenting on his new position, Mr. McClain said, "I am excited
to join the Real team. I look forward to being a part of the
Company's transformation from pure software to software and
hardware and the continued investment in AI."
About RealNetworks
Building on a rich history of digital media expertise and
innovation, RealNetworks has created a new generation of products
that employ best-in-class artificial intelligence and machine
learning to enhance and secure our daily lives. Real's portfolio
includes SAFR, the world's premier computer vision platform for
live video, KONTXT, an industry leading NLP (Natural Language
Processing) platform for text and multi-media analysis, and
leveraging its digital media expertise, a mobile games business
focused on the large free-to-play segment. For information about
all of our products, visit www.realnetworks.com.
RealNetworks is a registered trademark of RealNetworks, Inc. All
other trademarks, names of actual companies and products mentioned
herein are the property of their respective owners.
Forward-Looking Statements
This press release contains forward-looking statements that
involve risks and uncertainties, including statements relating to
our current expectations regarding our future growth,
profitability, and market position, our financial condition and
liquidity, our strategic focus and initiatives, product plans,
agreements with partners, Scener's current and future activities,
and certain remaining contingencies relating to the sale of
Napster. All statements contained in this press release that do not
relate to matters of historical fact should be considered forward-
looking statements. These statements reflect our expectations as of
today, and actual results may differ materially from the results
predicted. Factors that could cause actual results for
RealNetworks, on a consolidated basis, to differ from the results
predicted include: our ability to realize operating efficiencies,
growth and other benefits from the implementation of our growth
initiatives and restructuring efforts; cash usage and conservation,
and the pursuit of additional funding sources; successful
monetization of our products and services; competitive risks,
including the emergence or growth of competing technologies,
products and services; issues with the use of AI; potential
outcomes and effects of claims and legal proceedings; risks
associated with key customer or strategic relationships and
business acquisitions and dispositions; challenges caused by the
COVID19 pandemic; disruptions in the global financial markets,
including changes in consumer spending and impacts to credit
availability, and fluctuations in foreign currencies; volatility of
our stock price; material asset impairment; continued declines in
subscription revenue; difficulty recruiting and retaining key
personnel; regulatory, tax, accounting, and cross-border risks; and
risks related to our governance structure. More information about
potential risk factors that could affect our business and financial
results is included in RealNetworks' latest annual report on Form
10-K for year ended December 31,
2021, its quarterly reports on Form 10-Q and in other
reports and documents filed by RealNetworks from time to time with
the Securities and Exchange Commission. The preparation of our
financial statements and forward- looking financial guidance
requires us to make estimates and assumptions that affect the
reported amount of assets and liabilities, and revenues and
expenses during the reported period. Actual results may differ
materially from these estimates under different assumptions or
conditions. RealNetworks assumes no obligation to update any
forward-looking statements or information, which are in effect as
of their respective dates.
Contacts:
Brian M. Prenoveau, CFA MZ North America
561-489-5315
ir@realnetworks.com
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SOURCE RealNetworks, Inc.