Hulu CEO Kilar Leaving Company

RELATED: Analysis -- Changes at Hulu May Come Faster With Kilar Gone

Hulu CEO Jason Kilar will depart the company, he announced
in a post on Hulu's blog

"I've decided to depart Hulu in Q1," Kilar wrote
in the post, which was also emailed to Hulu staff members. "I am currently
working with the Board to ensure there is ample runway to manage this

Richard Tom, senior VP and chief technology officer, will
also leave Hulu around the same time, Kilar said.

Kilar continued: "I've been so fortunate to play a role
in this amazing, ongoing journey. My decision to depart has been one of the
toughest I've ever made. Though the words will fall short of the intended mark,
please know how much this team means to me and how very thankful I am to be
able to innovate and build alongside you each day."

In his post Kilar, who has helmed Hulu since its inception in 2007, said the company generated "almost $700 million" in revenue during 2012 over $1 billion for its parent companies -- News Corp., Disney and Comcast.

Rupert Murdoch, chairman & CEO of News Corp., added:

"Jason and his team have done a great job building Hulu into one of the leading online video services available today and it's incredibly well positioned for the road ahead. We are grateful for Jason's leadership and wish him the best on his next venture."

"Jason has been an integral part of the Hulu story, transforming it from an interesting idea into an innovative business model that continues to evolve," said Bob Iger, Chairman and CEO, The Walt Disney Company. "We are proud of his achievements, we appreciate what he's built, and we share his confidence in his team's ability to drive Hulu forward from here."