- RealNetworks Inc (NASDAQ: RNWK) announced that it has appointed Mike Ensing to the position of President and Chief Operating Officer
RealNetworks Inc (NASDAQ: RNWK) announced that it has appointed Mike Ensing to the position of President and Chief Operating Officer. Ensing previously served as interim CFO and as a strategic advisor to RealNetworks from early January to early May of this year.
Ensing rejoins RealNetworks in the new role of President and Chief Operating Officer, assuming worldwide responsibility for the operations of Real’s core businesses and helping guide strategic decision-making. Going forward, Ensing will report directly to CEO Rob Glaser.
Ensing is succeeding Max Pellegrini — who will be leaving RealNetworks in September to return to Italy where he will be taking on a new executive opportunity. And Ensing starts at Real on August 17th and will fully complete the transition to President and COO by the time of Max’s departure in early September.
Ensing is a known as a skilled business leader with over 25 years of experience in executive finance and operations at large-scale organizations. He was most recently Chief Financial Officer of Savers/Value Village from 2014 to 2019.
Previously, Ensing served in Chief Operating Officer and Chief Financial Officer roles at Knowledge Universe, from 2012 to 2014, and in several financial leadership positions at Microsoft from 2004 to 2012. Earlier in his career, he worked in various positions at consulting companies, including McKinsey & Co. and Deloitte Consulting.
Ensing earned an M.B.A. from the Kellogg School of Management at Northwestern University and a Bachelor of Science degree from the University of Michigan.
RealNetworks was originally known for being a pioneer in streaming media back in 1994. But it recently pivoted into facial recognition platform for live video (called SAFR) upon Glaser investing $10 million into the company to do so. Last year, RealNetworks posted $172.1 million in annual revenue, including $106.3 million from Napster alone (formerly known as Rhapsody). RealNetworks owns a majority stake in Napster.
KEY QUOTES:
“I am delighted that Mike will be coming back to Real to help lead the company into the future. Mike did a great job as our interim CFO earlier in 2020. I’m confident that he will hit the ground running in this significantly expanded permanent role.”
– Rob Glaser
“I am thrilled at this opportunity to lead RealNetworks in this new operational and strategic role. Real is renowned for its technological expertise, innovation, and industry leadership, which provides a strong foundation for future growth.”
“On behalf of everyone at RealNetworks, I want to thank Max Pellegrini for his numerous contributions to the Company during his seven years at Real. Max is a strong leader, an outstanding person, and a good friend to Real as well as to me personally. We will miss him, but I’m happy for Max that he and his family will be following a path that is important to them.”
– Mike Ensing
“During the last seven years at Real, I have been working with amazing people and fantastic teams on new exciting products and groundbreaking technologies. I am proud of the work we have done to lay the foundation for future growth. These are exciting times, and I am looking forward to seeing the next phase of Real over the coming years.”
– Max Pellegrini
