DivX Appoints New CTO

San Diego-based video codec firm DivX said Wednesday afternoon that it has appointed Markus Moenig as the firm's Senior Vice President and Chief Technology Officer. Moenig is the founder of MainConcept, which DivX acquired last November. DivX said its current CTO, Chris Russell, will continue to assist the company in a consulting role. MainConcept was a supplier of H.264 video codecs. According to DivX, Moenig will run its global engineering organization and oversee development of its technology platform, strategy, and system architecture. The appointment of a new CTO closely follows the shutdown of Stage6, the DivX video sharing site, earlier this week.