CableLabs announced Friday that president and CEO Paul Liao has decided to not renew his contract with the R&D consortium when it expires in December 2012.
According to CableLabs, Liao -- who took the helm in July 2009 -- informed the consortium's executive committee last week in New York that he will not renew his contract as CEO "due to personal reasons."
The executive committee agreed to execute a succession plan and begin the search for a new CEO immediately. Liao will continue as CableLabs president and CEO during the transition.
Liao, formerly Panasonic's chief technology officer, replaced Dick Green, who had served as CEO since CableLabs' inception in 1988 before retiring in 2009.
"Although Paul has been with CableLabs for a relatively short period of time, his contributions have been great and include establishing new programs that are helping the industry grow its broadband and commercial businesses, as well as drive cable's ability to provide services to smart CE devices using IP technology," Glenn Britt, Time Warner Cable chairman and CEO and chairman of the CableLabs board, said in a statement.
Continued Britt, "CableLabs continues to provide the technical expertise and support necessary to enable industry growth at a time of rapidly changing technology. Building on its past accomplishments, CableLabs will continue to play this critical role in our industry's current and future success."
Liao, in a statement provided by CableLabs, said: "I've felt truly honored to be working with a tremendous group of people, both at CableLabs and throughout the cable industry. With new technologies emerging every day, it is an extremely exciting time for the cable industry and specifically for CableLabs. I remain fully committed to the team at CableLabs and will support the efforts of the Board in its search for my successor."
The smarter way to stay on top of the multichannel video marketplace. Sign up below.