The founder and top executive at Redbox announced he is leaving the company early next year.

Gregg Kaplan, who is both interim president at Redbox and president/COO at its parent company, Coinstar, will step down next March. He is being replaced by Anne Saunders, who is currently executive vice president and chief marketing officer at Knowledge Universe.

Kaplan offered a desire to “pursue new opportunities” as a rationale for his departure. While he will continue to work on new business development at the kiosk-based rental service until leaves, Saunders will start in her role on Aug. 27.

Kaplan started Redbox in 2002, creating a new category of DVD distribution to over 38,000 kiosks across North America. He sold the company to Coinstar in 2009.

“To say that I am extremely proud of everything we have accomplished here is an understatement,” said Kaplan. “I look forward to continuing to work closely with the teams, including our talented and dedicated employees around the country, to ensure a smooth transition in the months ahead.”

In addition to Knowledge Universe, Saunders has worked at Bank of America, Starbucks and AT&T. She reports to Coinstar CEO Paul Davis.

“Gregg is a true entrepreneur and has left an indelible imprint on everyone here, and we wish him only the best in the future,” said Davis.

Coinstar and Verizon are jointly launching a subscription VOD service later this year that could rival Netflix by enabling digital rental of content across the U.S.