Maybe investors are dazzled by that "very exciting road map" promised by Rob Glaser in his farewell note to RealNetworks employees? OK, more likely they're encouraged by the prospect of someone new at the helm of a company that has struggled to find its footing under the leadership of its founder in recent years.

Whatever the case, the Seattle company's stock is doing quite well in early trading today, up more than 16 percent, to around $4.50, one day after Glaser announced that he was stepping down as the company's chief executive officer. General counsel Robert Kimball was named president and acting CEO of the company.

If it stays in that realm through the close of trading today, it would the highest mark for RealNetworks' stock in more than a year.

The announcement yesterday came as a surprise to the local technology community. Glaser will remain the company's chairman, and he owns more than 38 percent of its common stock. The company declined to directly address a report by the Wall Street Journal's AllThingsD blog that cited anonymous sources saying that Glaser was forced out as CEO by the board and ultimately decided to go along with the decision.

"While there's never an ideal time to make a change like this, this is as good a time as any," Glaser said in his message to employees. "We've weathered the brunt of the Great Recession and have done what we said we wanted to do, which was to keep our core solid while also building for the future. We've also undertaken an extremely rigorous strategy review and have a very exciting road map for the future that you'll hear about in the days and weeks ahead."

In a separate message to employees, published by PaidContent.org, Kimball had the following to say:

"The senior executive team is galvanized and committed to making RealNetworks a company where customers love our products, employees are excited about being here, and we create value for our shareholders. We want RealNetworks to be a more focused, faster growing and profitable company. We are going to simplify the way we do business, empower employees to do their jobs, and hold people accountable for their results. I look forward to working with all of you to transform RealNetworks as part of this next chapter."

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