Quincy Smith Goes Indie, Leaves CBS

quincy_smithCBS Interactive CEO Quincy Smith is leaving his job, a move that wasn’t altogether unexpected. But the departure is clearly on good terms; CBS (s CBS) announced the news today with a press release headlined “QUINCY SMITH SIGNS MULTI-YEAR ADVISORY AGREEMENT WITH CBS CORPORATION” after Kara Swisher had the scoop.

Smith is to stay in his current role until the end of the year, at which point he will move onto “an independent advisory business” that will advise CBS on digital. He will continue to be involved in CBS Interactive’s monetization, authentication, partnerships and other “growth opportunities” — so just about everything, unless of course his other clients want some of his time! CBS Interactive President Neil Ashe will be staying on to lead the division.

Smith had been with CBS Interactive since Nov. 2006, and has made some big digital bets, such as the acquisition of CNET; March Madness On Demand and other live sports streams; and the wide online syndication of CBS shows. In a statement, CBS President and CEO Leslie Moonves called him “one of the finest minds working in Interactive media today.” Smith also has extensive experience in investing with Allen & Company and The Barksdale Group, but it would be a tough time to raise a fund right now.

Want to hear what’s next for Smith? Come to our NewTeeVee Live conference in San Francisco in a few short weeks. Smith will be joining us on stage for what’s sure to be a fantastic fireside chat with GigaOM founder Om Malik.