TiVo President and CEO Thomas Carson to Retire

Search for successor is underway, company considering internal and external candidates
thomas carson.jpg

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.

RELATED: Rovi Seals Deal for TiVo

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.”

RELATED: TiVo-Rovi Integration ‘On Track,' CEO Says

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.