It’s finally happened. Hulu CEO Jason Kilar announced today that he will be walking away from the video site by the end of this quarter. SVP and Chief Technology Officer, Rich Tom, will be heading out the door with him.
The news, which Kilar announced Friday via a memo on Hulu’s company blog, comes after a year of uncertainty about the video site’s ownership and strategy. In the memo, Kilar describes the decision to leave as difficult and explains he and Tom will stay on for a while to manage the transition. He also cited what he sees as Hulu’s accomplishments:
We have grown from a few hundred thousand in revenue in 2007 to generating almost $ 700 million in revenue in 2012 alone. We have created a video subscription service that is growing unusually fast, adding over 200K new subscribers in the past 7 days alone (a new record). We have proudly generated over $ 1 Billion for our content partners since we excitedly entered private beta in October 2007.
More coming soon.