TiVo Names Financial Chief as Interim CEO
January 12 2016 - 6:20PM
Dow Jones News
TiVo Inc. on Tuesday named its chief financial officer, Naveen
Chopra, as interim chief executive, effective Jan. 30.
Mr. Chopra succeeds Tom Rogers, who is slated to become
nonexecutive chairman of the company's board. For the current
quarter, the company previously estimated it would book a charge of
$11 million to $12 million linked to the chief executive
transition. Mr. Rogers has been at his post for 11 years.
Mr. Chopra has been with TiVo since 2003. Before joining the San
Jose, Calif., company, he held various business-development and
product-marketing roles at companies that include Hewlett-Packard
and Microsoft.
The company also said it added Wendy Webb, chief executive of
Kestrel Corporate Advisors, to its board.
TiVo, founded in 1997, changed the way television is watched by
introducing a digital video recorder.
To stay competitive, TiVo struck distribution agreements with
some of its competing pay-TV carriers and video-streaming services,
and developed technology that allows subscribers to grab video off
the Web and traditional broadcast or cable channels. In September,
it introduced its latest recorder: the Bolt.
In the third quarter, TiVo added about 429,000 subscriptions for
a total of more than 6.5 million, up 26% from a year earlier and 7%
from the previous quarter.
Write to Ezequiel Minaya at ezequiel.minaya@wsj.com
(END) Dow Jones Newswires
January 12, 2016 18:05 ET (23:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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