Rovi CEO Amoroso To Retire

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Rovi president and CEO Fred Amoroso notified the company he intends to retire no later than June 30, 2012, the company disclosed in a regulatory filing.

The Rovi board of directors said it will be conducting a search for the company's next CEO, according to the company's 8-K filing with the Securities and Exchange Commission.

In a statement, Amoroso said, "Rovi is in a great position. The company continues to be an industry leader in the growth of personalized entertainment discovery and delivery. I have been fortunate to serve Rovi through this exciting time, to grow it and put a leadership team in place that will continue its success after my retirement."

Amoroso, 61, has served as Rovi's president and CEO since July 2005. Under his watch, the company -- previously known as Macrovision Solutions -- has made a number of acquisitions, including Gemstar-TV Guide International and Sonic Solutions, to expand its portfolio of guide, search, discovery, metadata and video technologies.

Amoroso will remain in his position until the first day of employment of the next CEO, according to the Rovi filing. Following that date, Amoroso will assist the board and the new chief executive officer during a 90-day transition period. After that, Amoroso will be employed on a part-time basis for up to four years with an annualized base salary of $50,000.

Prior to Rovi, from September 2004 to June 2005, Amoroso served as an advisor to Warburg Pincus, an investment firm. From July 2002 to August 2004, he was president, CEO and vice chairman of Meta Group, an information technology research and advisory firm. Amoroso also was CEO of CrossWorlds Software, now part of IBM. 

Amoroso holds a bachelor of science degree in systems engineering and master's degree in operations research from Polytechnic Institute of Brooklyn.

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