Tom Rogers Steps Down as TiVo CEO

SAN JOSE: Tom Rogers is exiting his CEO post at TiVo after nearly 11 years, though he will continue as a non-executive chairman of the board of directors.

Rogers will leave the role officially on January 31, 2016. The board of directors has formed a search committee to identify a replacement. Board member Dan Moloney has been named lead independent director. Moloney is the former president of Motorola Mobility.

"TiVo 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," said Rogers. "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."

"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," commented Moloney. "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."

Rogers continued: "I want to publicly recognize 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."