TiVo Corp. announced Wednesday that the company’s president and chief executive officer will retire after more than 11 years with the company and its predecessors. Thomas Carson, who has been president and CEO and a member of the Board of Directors of TiVo Corp. (formerly Rovi Corp.) since December 2011, informed the board of his intention to step down from his current positions.
“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 company said in its announcement. “The process is already under way and the Board is considering both internal and external candidates in its search.”
The company’s board retained Spencer Stuart to assist 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,” the announcement notes.
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.”