TiVo July 5 announced that CEO Enrique Rodriguez is leaving to become CTO at Liberty Global, a telecom, pay-TV operator — and TiVo client — based in London.
TiVo said Raghu Rau, a member of the board of directors, has been named interim CEO, effective immediately. Rodriguez will remain at TiVo in an advisory role to ensure a smooth transition.
Rodriguez joined TiVo last November after two years as CTO at AT&T’s Entertainment Group. He had replaced retiring CEO Thomas Carson, who became TiVo’s chief executive after his company — Rovi Corp. — acquired TiVo.
TiVo, which pioneered the DVR and now licensing myriad over-the-top and digital video technologies, said it has retained an executive search firm to find a permanent CEO.
“On behalf of the board, I want to thank Enrique for his leadership and we wish him the best in his next chapter,” James Meyer, chairman of TiVo’s board, said in a statement.
As previously announced, the TiVo board continues to explore a broad range of strategic alternatives to maximize the value of its shareholders – including selling the company. With its independent financial and legal advisors, TiVo said it expects to provide an update on this review by the second quarter 2018 earnings call.