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Brightcove CEO Allaire to Step Aside

Jeremy Allaire, founder, chairman and CEO of online video-management provider Brightcove, will relinquish the chief executive role at the end of the first quarter, the company announced Thursday.

The company said David Mendels, currently president and chief operating officer of Brightcove, will become the CEO at the beginning of the second quarter of 2013. Allaire will become executive chairman and will "continue to be actively involved" in the company's strategic planning, product development and key customer relationships, Brightcove said.

"As a founder of Brightcove, I couldn't be prouder of the company's accomplishments over the last eight years, which has put us in a position to cross the $100 million in revenue milestone during 2013," Allaire said in a statement. "One David is the right person to lead Brightcove into its next stage of growth and I am thrilled to have an executive with his background and experience succeeding me as CEO. I look forward to continuing to work with David."

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