The chief executive of Canoe Ventures plans to leave the interactive advertising firm when his contract ends later this year, reports MediaPost’s MediaDailyNews. David Verklin has been CEO of the company since it started in 2008.

Current Chief Operating Officer Kathy Timko is interim CEO, although the story notes that no search process has been started.

Canoe, which is owned by the six largest cable operators, provides a product that helps manage interactive advertising on national cable networks.

Verklin’s departure is not a sign that Canoe’s backers are pulling back, according to a statement from Robert Marcus, a Canoe board member and the COO of Time Warner Cable.