INgrooves founder and CEO Robb McDaniels has resigned from the company he founded and guided since 2001. He will remain on the company's board of directors, serve as a consultant to the company and continue as a shareholder.
"Over the past 13 years, I have led the expansion of Isolation Network into one of the most forward-thinking media distribution, marketing and technology companies in the world, with more than 175 employees in five global offices," McDaniels said in a statement. "But I am an entrepreneur at heart and with the company in the capable hands of an exceptionally strong executive team, the time has come for me to move on to the next chapter in my life."
While the company searches for a replacement, INgrooves co-counder and general counsel Matt Burns will assume the position of interim CEO, overseeing an executive team consisting of CFO Ben Cary and COO Vinnie Freda. In addition, Jay Boberg, who has served as the company's chairman since 2010, will become executive chairman and take a more active role in the company's strategic operations.
"Robb is a rare visionary in the digital media industry, and we want to thank him for his tireless years of leadership building Isolation Network into one of the largest independently owned media distribution companies," Boberg said in a statement. "We are confident that the executive team Robb has assembled will continue to deliver for our partners around the world."
In addition to INgrooves, one of the top indie distributors in the U.S., parent company Isolation Network also includes an e-book division, INscribe Digital, and In Enterprise, which manages the digital pipeline for the Universal Music Group.
Since its founding as a U.S. digital distributor of European electronic dance music, the company has grown by absorbing Fontana Distribution -- which added physical distribution capabilities -- from UMG, and by distributing more than 200 labels. In 2010, Shamrock Capital made a significant investment in the company, allowing it to grow its capabilities. Its distribution arm now also includes INresidence Artist Services and Rights Services divisions.