Dolby Laboratories, Inc. (NYSE:DLB), announced today that Bill Jasper, the company’s President and Chief Executive Officer, will retire on March 27, the last day of the company’s second fiscal quarter, from his executive posts after 30 years as a senior executive with Dolby. Jasper will continue to serve on Dolby’s Board of Directors. Company Chief Financial Officer, Kevin Yeaman, will succeed Jasper as the new President and CEO and will join the Board of Directors effective upon assuming the CEO role.

“Bill Jasper led Dolby Laboratories through its evolution from the small company that I started to the international organization it is today,” said Ray Dolby, Founder. “The company has thrived under his leadership. I thank him for his resourceful and dependable service to our organization and wish him the best as he moves on to the next phase of his life.”

Jasper joined Dolby in 1979 as Chief Financial Officer and was named company President in 1983. Over the years, he has led the company through many of its technology transformations, including analog to digital, music to film, cassettes to DVDs, and audio-only to audio and video. Today, Dolby^® technologies enhance consumers’ enjoyment of digital entertainment in more ways than ever before.

“I’m honored to have had the opportunity to lead Dolby over the past three decades and would like to thank Ray for an incredible opportunity that has been extremely rewarding, both professionally and personally. I am proud of our employees, and of the world-class products, technologies, and services they deliver,” said Jasper. “I’m very pleased to have Kevin taking the reins. I have every confidence that the company will continue to flourish under his leadership. Kevin is an outstanding leader with the ability to focus an organization to achieve results.”

Yeaman joined Dolby in 2005 as Chief Financial Officer, where, in addition to running the financial organization and investor relations, he has been an instrumental member of the company’s strategic planning process. Prior to joining Dolby, Yeaman was Chief Financial Officer at E.piphany, Inc. and was key to taking that company from its early stages as a private technology start-up to a public company. Yeaman began his career with ten years at KPMG, LLP.

“I want to thank Bill for his leadership at Dolby. I am excited to have the opportunity to build on the foundation that Bill and Ray have established,” said Yeaman. “Dolby’s success has always come from its smart, passionate, and talented people.