TiVo said its board has named Naveen Chopra, the DVR and video software company’s current CFO, to interim CEO, effective Jan. 30, 2016.
Chopra, who joined TiVo in 2003, succeeds Tom Rogers, who is stepping down as CEO at the end of the month, but will remain with TiVo as non-executive chairman of the board.
Prior to TiVo, Chopra held exec slots at several tech-focused companies, including HP, Microsoft, Moxi Digital (now part of Arris), Ispiri and Ofoto.
"I look forward to continuing to work with my talented colleagues to grow value for our shareholders," Chopra said, in a statement. "Moving forward, we will be highly focused on product innovation, accelerating profitability, enhancing subscription growth, and securing new distribution agreements across an expanded geographic footprint -- in addition to safeguarding TiVo's invaluable intellectual property."
"Naveen is the perfect choice to serve as interim CEO," added Rogers. "He and I have worked incredibly closely for the last 11 years, and he deserves tremendous credit for much of the progress TiVo has made in becoming the global leader in advanced television. I am enthusiastic about continuing to work with Naveen as we step into our new roles at TiVo."
TiVo also announced that Wendy Markus Webb, currently CEO of Kestrel Corporate Advisors, has joined the company board and its audit committee, effective January 11. She is also an independent director of ABM Industries, PetSmart Charities, Inc. and 9 Spokes, and has previously been with The Walt Disney Company, Tennenbaum Capital Partners, Ticketmaster Entertainment, PaineWebber Inc. and Lehman Brothers.
Dan Moloney, TiVo’s lead independent director and a former Motorola and General Instrument exec, called Webb “a valuable addition to TiVo's board of directors as we advance TiVo's position in the global market and continue our search for a permanent CEO.”
TiVo ended its fiscal Q3 with 6.46 million subscribers, a number that includes 5.51 via TiVo's partnerships with MVPDs.