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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

April 9, 2013 at 11:48 AM

RealNetworks’ Hulett resigns, leaving state

Matt Hulett, senior vice president of the games division of RealNetworks and a fixture in Seattle’s tech community, is resigning and moving out of state.

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Real disclosed the change in a brief SEC filing today, saying he gave notice on April 5 and will leave effective May 1 “in order to accept an executive opportunity out of state.”

Reached by email, Hulett said his new position is “secret” and declined further comment.

Hulett joins a series of executives who have left the company in recent years. His resignation follows the February hiring of Max Pellegrini, former chief executive of dada.net, as president of Real’s mobile entertainment division.

The resignation also¬†comes less than two weeks after Real announced a new executive compensation plan that based future compensation 75 percent on how the company or its divisions performed and 25 percent on individual performance. Hulett’s 2013 target payout under the plan was $244,125 and his maximum payout this year would have been $512,663.

Hulett is a University of Washington grad who rose during the glory days of Seattle’s digital media industry, building the RealPlayer business before leaving Real to become president of Atom Entertainment. Later Hulett was president of Expedia’s corporate travel group and founder of an online commerce venture that evolved into AdXpose, an ad optimization company acquired by comScore in 2011.

Returning to Real in 2009, Hulett led the games business through a rocky period when much of the executive team left the company, including two chief executives who lasted barely a year each. Founder Rob Glaser returned last summer to reorganize the business.

RNWK is down a penny today, to $7.41.

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