Canoe Ventures, the advanced TV company formed by the major cable companies, said that CEO David Verklin will be leaving at the end of the summer.
Kathy Timko, currently Canoe's chief operating officer, was named interim CEO.
While interactive TV has shown great promise for both cable operators and advertisers, Canoe, founded in 2008, has faced delays in getting products into the market.
"David's passion for media and advertising is contagious. He and the team at Canoe have helped the industry to reach new levels of collaboration that support the growth of our business, the enhancement of services to our customers, and the advancement of new marketing solutions for television advertisers," Robert Marcus, president and COO of Time Warner Cable and a Canoe board member, said in a statement. "The board remains committed to the significant business opportunities we are pursuing through Canoe."
Another board member, Neil Smit, president of Comcast Cable, said that Timko's "experience managing and scaling high-tech organizations, including her track record driving marketplace adoption and creating new business revenue, positions her well for leading Canoe through the next phase of its development."
Smit added that "the business skill Kathy has demonstrated at Canoe over the last two years has been pivotal in helping the industry's national interactive television platform to surpass 20 million households and has led the company to its go-to-market phase. As Canoe expands its portfolio of ITV services and launches national dynamic ad insertion for Video On Demand, Kathy's business acumen will be key to deeper penetration of Canoe's solutions in the market."
