Imagine Communications has announced a significant leadership transition. Current CEO Tom Cotney will retire, with current company president Steve Reynolds stepping into the CEO role. The company emphasized a seamless handover, with both executives working closely together to ensure a smooth transition.
Cotney will remain actively involved with the company, taking on the title of non-executive chairman of the board. In this new capacity, he will focus on key customer relationships and act as a performance coach across the organization. “I am excited to take on this new role as it allows me to end my career the way I started — basically as a salesman —doing work that is important to me and Imagine, rather than the grind of daily operations,” Cotney said. “Leading a company with such a storied legacy in the industry has been a privilege.”
Eddie Johnson, executive vice president of Imagine Communications and senior managing director of Gores Group, commented on Cotney’s tenure and the upcoming leadership change: “Tom’s leadership has been transformative for Imagine. Under his visionary leadership, Imagine has successfully evolved from a hardware-focused organization into a premier software company, achieving steady performance and laying the foundation for continued growth. Moving forward, the company will be in excellent hands as Steve takes the reins. He brings extensive industry and company experience to this role and is highly respected both internally and across the global market. Under Steve’s leadership, we will remain focused on putting our customers first, delivering quality products on time and on budget, and continuing the successful path that Tom has put us on.”
Reynolds boasts a 25-year career in media technology leadership, holding previous executive positions at notable companies including Comcast, OpenTV, ACTV, and Intellocity USA. “The formula that Tom guided us toward over the past six years has been working, and we intend to continue moving toward those same objectives,” Reynolds stated. “What we’ve accomplished together has put Imagine in a strong position — debt-free, cash flow positive, and operating at an exceptional level of productivity and effectiveness. Our message to the industry is that this leadership change is not going to change the way we work, the level of service we provide, or our commitment to upholding the high standards that define Imagine.”
Reynolds holds an impressive portfolio of over 40 patents related to digital video, advanced advertising, interactive television, and digital devices. He is a member of SMPTE and SCTE and serves as chairman of the board for the Alliance for IP Media Solutions (AIMS).