Online video distribution and marketing company Rightster has announced that Patrick Walker is to step down as its chief executive and proposed that founder Ashley MacKenzie should return to the role.
Walker assumed control of Rightster in January of this year after co-founder Charlie Muirhead stepped down as chief executive. Walker will now move to a non-executive director role at the company.
Non-executive chairman Mark Lieberman will also step down from the Rightster board, as will non-executive directors Michael Broughton and David Mathewson. Chief financial officer Niall Dore and non-executive director Jack Barnett will retain their places on the board.
In response, Rightster has proposed a new management team to be headed up by MacKenzie as chief executive.
Rightster also proposed Sir Robin Miller be appointed non-executive chairman, Richard Mansell to become chief operating officer and Mark Cranmer to serve as non-executive director.
Rightster said the new management team will continue to pursue a strategic review announced this month. In his new role, Walker will continue to oversee this initiative.
The company last month also said it was looking at options to bring in additional investment in the fourth quarter of 2015 to ensure it has enough working capital to move towards breaking even in terms of cash flow.