Just two weeks after RealNetworks reinserted founder Rob Glaser as interim CEO, more changes are coming to the Seattle technology company. Today, Real announced that John Cunningham, a Seattle angel investor who runs Clear Fir Partners, has joined the board.
“John brings broad experience and knowledge across the digital landscape to our board,” said Glaser in a press release. “He is also a great catalyst for change, as he has exhibited many times in his career, most notably in his role as Chairman of the Board of Directors for Blucora Inc.”
Blucora, formerly InfoSpace, underwent a dramatic shift with Cunningham on the board in which the company exited several businesses, paid $500 million in cash dividends to shareholders and maneuvered into new areas with the $287 million acquisition of TaxACT.
Blucora boasts a market value of $519 million, nearly double RealNetworks’ value of $275 million.
Cunningham, who will get paid $8,750 per quarter for his role on the board in addition to $1,000 per meeting, currently sits on the boards of Qliance and AudienceScience.
“RealNetworks has a tremendous collection of underutilized assets and great people,” said Cunningham. “Rob Glaser is a pioneer and visionary in digital media and I am excited to help him and the board increase shareholder value.”
RealNetworks board now consists of seven people: Glaser, Cunningham, Janice Roberts, Mike Slade, Eric Benhamou, Kalpana Raina and Dominique Trempont,
The changes come after Thomas Nielsen stepped down as CEO earlier this month after just seven months on the job. At the time of the departure, Glaser said that the “the board and Thomas mutually agreed that the CEO position wasn’t the right fit.”