RealNetworks announces executive shake-up

RealNetworks has announced a shake-up of its business with the formation of a new operating structure.

The promotion of three executives is designed to strengthen and bring together RealNetworks' existing portfolio of digital entertainment services.

The company also hopes that the move will foster innovation to fuel the next stage of growth, and set the stage for its announced intention to spin off its games business.

John Giamatteo has been promoted to chief operating officer of RealNetworks, and Harold Zeitz has been promoted to chief operating officer of the games division.

Mike Lunsford has been appointed executive vice president of strategic ventures. All appointments are effective immediately.

"The promotion of these three executives sets up RealNetworks' next chapter, " said chairman and chief executive Rob Glaser.

"These are outstanding executives who each have a proven ability to deliver great results. I am very proud to work with them and congratulate each of them on their well-deserved promotions."

Giamatteo served most recently as president of technology products and services and international operations. Lunsford joined in January as a strategic advisor, while Zeitz was senior vice president of media software and services.