Imagine Communications has announced a leadership transition that will see current CEO Tom Cotney retire to be replaced by the current company president Steve Reynolds.
In a statement, Imagine said the two executives will work closely to ensure a seamless leadership transition.
Cotney will remain a part of the business and will take the title non-executive chairman of the board. In his new role, Cotney will support leading customers and serve as a performance coach across all levels of the organisation.
“I am excited to take on this new role as it allows me to end my career the way I started — basically as a salesman —doing work that is important to me and Imagine, rather than the grind of daily operations,” said Cotney. “Leading a company with such a storied legacy in the industry has been a privilege.”
Eddie Johnson, executive vice president of Imagine Communications and senior managing director of Gores Group, said: “Tom’s leadership has been transformative for Imagine. Under his visionary leadership, Imagine has successfully evolved from a hardware-focused organization into a premier software company, achieving steady performance and laying the foundation for continued growth.
“Moving forward, the company will be in excellent hands as Steve takes the reins. He brings extensive industry and company experience to this role and is highly respected both internally and across the global market. Under Steve’s leadership, we will remain focused on putting our customers first, delivering quality products on time and on budget, and continuing the successful path that Tom has put us on.”
Reynolds’ career spans 25 years of technology leadership in media technology, including previous executive positions at Comcast, OpenTV, ACTV and Intellocity USA.
“The formula that Tom guided us toward over the past six years has been working, and we intend to continue moving toward those same objectives,” said Reynolds. “What we’ve accomplished together has put Imagine in a strong position — debt-free, cash flow positive, and operating at an exceptional level of productivity and effectiveness. Our message to the industry is that this leadership change is not going to change the way we work, the level of service we provide, or our commitment to upholding the high standards that define Imagine.
Reynolds holds over 40 patents relating to digital video, advanced advertising, interactive television and digital devices. He is a member of SMPTE and SCTE, and also serves as chairman of the board for the Alliance for IP Media Solutions (AIMS).
