MetaCreations and its subsidiary MetaStream have announced major changes to their executive staff, and said the "divestiture" of MetaCreations' graphics products would be completed by the end of the month.

Bob Rice, currently CEO of MetaStream, is expected to become CEO of MetaCreations later this month. The company said: "This management change would occur in conjunction with the completion of the divestiture of MetaCreations' pre-packaged graphics software applications."

Rice will replace current CEO Mark Zimmer, who is expected to step down to "pursue opportunities that would allow him to remain in the graphics software industry".

Zimmer has been in the position for less than four months. He took over the role after Gary Lauer's resignation when the company announced it was to divest its graphics software business.

A new CFO, James Abate, and a new chief marketing officer, Paul Kadin, have been appointed to represent both MetaCreations and MetaStream.