Current Chairman and CEO Mitchell Kertzman will become executive chairman by the end of the year as the result of new corporate governance decisions that include the formation of a new governance committee, according to a release from the San Carlos, Calif.-based company.
Liberate President Coleman Sisson will take over as CEO when Kertzman takes the new post. The company also announced that CFO Nancy Hilker is leaving the company to take the same position at handheld start-up Danger. Taking her place will be Kent Walker, who will assume his legal responsibilities later this month.
Kertzmanformer Chairman David Roux in late June when Sisson joined the board of directors. Kertzman is a member of the board of directors at CNET Networks, publisher of News.com.
Kertzman will remain a full-time employee of the company as well as chairman of the board.
Kertzman said that given the current business environment and some of the scandals in corporate America, it was important for the company to take a leadership position on corporate governance. Kertzman added that Liberate was filing its fiscal financials with the SEC later Wednesday and that he and Hilker had signed off on the filings.