Andrew Greenebaum, chief financial officer of CD Radio, is ankling his position to become CFO of eCompanies, the Internet incubator launched by former Buena Vista Internet Group chairman Jake Winebaum and EarthLink founder Sky Dayton.
Greenebaum, who joined New York-based CD Radio in 1997, will leave the company at the end of the month. The company is searching for a replacement to Greenebaum, CEO David Margolese said.
During his tenure, Greenebaum helped attract $500 million in investments from Prime 66 Partners and Apollo Management, among others venture capitalists.
CD Radio is building a digital satellite radio system that will broadcast up to 100 channels of commercial-free music, news, sports and entertainment programming to cars for a monthly subscription fee of $9.95.
The company has inked a deal with Ford Motor Co. to install receivers in Ford cars beginning in next year.
Prior to joining CD Radio, Greenebaum was the head of the corporate finance group at Disney.
“I feel a great sense of accomplishment after two years at CD Radio, and believe the company has never been in a stronger position,” Greenebaum said. “It was a difficult decision, but this opportunity was too good to pass on.”
eCompanies, founded in June through backing by Disney and EarthLink, plans to help launch Internet startups similar to the way Idealab! helped jumpstart sites such as eToys and CitySearch.