TiVo announced Wednesday that president and CEO Thomas Carson has informed the company’s board that he intends to retire from his current position. A search for Carson’s successor is underway.
Carson, who led Rovi through its merger with TiVo last fall and the ultimate adoption of the TiVo name, has been with Rovi/TiVo for more than 11 years, and has been president and CEO and a member of the Rovi (now TiVo) board since December 2011.
Carson plans to remain in his current role until a successor is appointed and will then serve as an advisor to the board and the new CEO to ensure a smooth transition, TiVo said.
TiVo it has retained Spencer Stuart to help with the search for a CEO, noting that the board is considering both internal and external candidates.
“Under Tom’s leadership the company has undergone a significant transformation; shedding underperforming assets, cutting cost, renewing major intellectual property licensing deals and acquiring TiVo,” TiVo board chairman Jim Meyer said, in a statement. “I believe the company is well positioned for future growth, profitability and improving shareholder value.”
TiVo posted Q1 revenues of $206 million, up $88 million, or 74% year-on-year, largely driven by the acquisition of TiVo, which contributed $85 million during the period.