TiVO CFO Announces Resignation

Sep 30, 2005  •  Post A Comment

David Courtney, TiVo’s chief financial officer and group executive for corporate products and services, said Friday that he was stepping down effective April 15, 2006, to pursue other interests.

“In light of the company’s recent accelerated achievement of its profitability target, its very strong financial position and the successful transition in CEO leadership, I feel that this is the right time for me to turn my attention to new and different pursuits,” Mr. Courtney said in a statement.

TiVo said it will begin searching for replacements for Mr. Courtney’s duties, but added Mr. Courtney will help in any transition.

His departure ends more than 6 ½ years with the Alviso, Calif.-based maker of digital video recorders, and comes at a challenging time for the company.

Despite reaching profitability in its most recent quarter, the company, under newly named CEO Tom Rogers, is looking to forgo profitability in the near term in order to boost its subscriber base. That comes at a time when the source of a lot of its growth-its alliance with satellite company DirecTV-is likely to wind down as DirecTV begins marketing a DVR from a TiVo rival.