Milestone Systems, an open platform video management software (VMS) company, announced that Lars Thinggaard, president and chief executive officer, has decided to leave the company. As a result, the board has started an open search to appoint a successor to Thinggaard. During the intervening period, Lars Larsen, Milestone Systems’ chief financial officer, will serve as interim CEO.

Following the announcement, Lau Normann Jørgensen, chairman, Milestone Group, said, “I am very grateful to Lars for the energy, vision and heart that he has dedicated to Milestone employees and the community partners. Please join me in wishing Lars the absolute best in all his future plans and endeavors.”

“I would like to echo Lau’s thanks; Lars has played a crucial role in the development of Milestone,” Larsen said. “Looking ahead, Milestone is a strong company and well positioned to continue as a leader in the open platform video management software business.”

Lars Thinggaard has served as president and CEO of Milestone Systems for 17 years, and as a member of the non-executive board before that. For the last six years, since the company’s acquisition by Canon Group in 2014, Thinggaard has led Milestone as a standalone company in the group. Looking ahead, as investor and non-executive chairman of several companies in the startup community, Thinggaard said he sees that now is the right time to move on and focus on these new initiatives. He added he would also like the flexibility and time to promote his new book, Tech for Life, that is about to be published.