TiVo (TIVO) Announces Retirement of CEO Thomas Carson

May 24, 2017 4:18 PM EDT

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TiVo Corporation (NASDAQ: TIVO), today announced that President and Chief Executive Officer, Thomas Carson, informed the company’s Board of Directors of his intention to retire from his current positions at TiVo Corporation after more than 11 years with the Company and its predecessors. Mr. Carson has served as the President and Chief Executive Officer and a member of the Board of Directors of TiVo Corporation (formerly Rovi Corporation) since December 2011.

In keeping with TiVo’s succession planning process, the Board’s Corporate Governance and Nominating Committee is leading the search for the company’s new Chief Executive Officer. The process is already underway and the Board is considering both internal and external candidates in its search. The Board has retained Spencer Stuart to assist them in the search. Mr. Carson will remain in his current capacity until a successor is appointed and will then serve in an advisory capacity to the Board, and new CEO, to ensure a smooth transition.

Chairman Jim Meyer commented, “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. I believe the company is well positioned for future growth, profitability and improving shareholder value.”

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