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Digital entertainment company RealNetworks Inc. says its founder has stepped down as chief executive officer, but will remain chairman.

In a statement, founder Rob Glaser said that after 16 years he decided it was time for him to step away from day-to-day operations.

The company's board has named Robert Kimball as president and acting CEO. Kimball also is joining the board.

In 1994, Glaser founded what was then known as Progressive Networks.

Kimball joined the company in 1999 and has been a member of the senior executive team since 2003. He most recently served as general counsel and executive vice president of corporate development.

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