One of pay-TV’s leading vendors, TiVo Corp., announced the pending retirement of its president and CEO, Tom Carson.
TiVo said Carson will remain in his position until a successor can be appointed. He’ll remain an advisor to the new CEO and the board upon his ankling.
Carson guided Rovi Corp. through its 2016 merger with TiVo. He joined Rovi 11 years ago and has served as CEO of Rovi—and later the combined company we now call TiVo—since 2011. Prior to taking on the top executive role at Rovi, he served the company as executive VP of worldwide sales and marketing. And prior to joining Rovi, Carson worked as an executive for consumer electronics giant Thompson.
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“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.”
The company has put recruiting firm Spencer Stuart on retainer to help with the executive talent search needed to fill Carson’s shoes.
TiVo Corp. posted a 74% uptick in first-quarter revenue to $206 million, driven largely by the addition of the legacy TiVo to the legacy Rovi’s bottom line.
TiVo is a leading supplier of user interface systems and metadata to the pay-TV industry. It also generates a large percentage of its revenue through patent licensing.