SAN JOSE, Calif. – (Diya TV) Raghu Rau, a veteran executive and board member of TiVo is named interim CEO and President of TiVo Corporation. He replaces Enrique Rodriguez, who resigned only 8 months into his stint as TiVo CEO to become Liberty Systems CTO in Europe. Rodriguez took on the helm at TiVo in November of last year, succeeding longtime President & CEO, Thomas Carson. He previously held executive positions at AT&T, Sirius XM, Microsoft’s Xbox and Cisco Systems.
Rau has served on the TiVo Board since 2015 and brings decades of leadership experience from helming video software vendor SeaChange International. Previously, Rau held multiple senior management positions at Motorola Inc. Since August 2017, he also serves as the Chairman of the Board for Quantum, a storage, archive and data protection vendor.
TiVo shares over the past year have dropped nearly 37% as the TV pioneer tries to adjust direction in the evolving video & media landscape and with the introduction of Freeview set top box recorders services becoming popular among the open market, TiVo will need to adjust quickly.
Rodriguez will remain a part of TiVo’s board during the transition. In a statement Rodriguez said, “My personal decision to pursue another opportunity was not easy. I couldn’t be more excited about what lies ahead for TiVo as I expect our performance through the second quarter of 2018, including our announced profit improvement actions, to be ahead of our internal plan. I am looking forward to continue my relationship with TiVo in my new role as a customer and partner. Until then, I am committed to working with the TiVo team to ensure a seamless transition.”
Chairman of TiVo’s Board of Directors, James Meyer remarked, “On behalf of the Board, I want to thank Enrique for his leadership and we wish him the best in his next chapter. We are fortunate to have a world-class leadership team in place and are pleased to have someone of Raghu’s caliber step in to lead the Company. He has been a member of the TiVo Board of Directors since 2015 and is a proven leader with extensive experience in the video industry and in the management of intellectual property. I am confident that Raghu, alongside the rest of the leadership team, will continue to drive the value that TiVo’s innovative technology portfolio brings to the fast-growing and hyper-competitive entertainment industry.”
Rau is happy to take on the challenge, saying “this is an exciting time for TiVo and I am eager to jump in as interim President and Chief Executive Officer. I look forward to working closely with our outstanding management team as we continue to innovate, profitably grow our customer base in key market segments, and expand our international presence. I also look forward to working with the Special Committee of the Board to bring our strategic alternatives process to a successful, value creating solution for our shareholders.”
Rovi acquired TiVo for $1.1 billion in 2016 and took on the DVR company’s name.