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Tom Rogers to relinquish CEO position at Tivo
MUMBAI: US media company Tivo has announced that Tom Rogers will relinquish his CEO position after nearly 11 years on 31 January 2016.
Rogers will continue with Tivo as non-executive chairman of the board of directors as of 1 February 2016. Tivo’s board of directors has formed a search committee to identify the best internal or external candidate to lead the company.
Board member Dan Moloney has been named lead independent director. He is the former president of Motorola Mobility, a provider of technologies, products and services for the mobile and cable/wireline industries that was acquired by Google in 2011.
“Tiv5o is a great company today — and I have thoroughly enjoyed the challenge of turning it around and building it from its DVR roots into the leader in providing next-generation TV in the United States and around the world. With the recent successful launch of one of the best reviewed retail television products ever, the new TiVo Bolt, and notable progress in our other core businesses, the Board and I agreed that this was an opportune time to seamlessly transition to a new leadership team. At a personal level, I will welcome the reduced bicoastal travel this will entail. And as a shareholder, I look forward to continuing to serve all TiVo shareholders as non-executive chairman,” said Rogers.
“We are confident that Tom and Tivo’s experienced leadership team will ensure a smooth transition to a new CEO and president as Tom transitions to non-executive chairman of the board. We thank Tom for his countless contributions to Tivo during his time as CEO and president. The board believes that these accomplishments aren’t fully reflected in TiVo’s stock price,” said Moloney.
Rogers added, “I want to publicly recognise the incredible team of employees at Tivo who have grown it into a company that is now in 30 countries around the world and still expanding. Tivo today serves over 70 pay TV operators, underpinned by some of the industry’s most valuable intellectual property agreements, providing a treasure trove of unique audience data and insights. Only an incredible team could turn a company around and accomplish all that.”