TiVo Names Tom Rogers as President and CEO
June 27 2005 - 7:30AM
PR Newswire (US)
TiVo Names Tom Rogers as President and CEO Media Veteran Selected
to Head DVR Pioneer and Brand Leader to Drive TiVo Expansion to the
Mass Media Market ALVISO, Calif., June 27 /PRNewswire-FirstCall/ --
TiVo (NASDAQ:TIVO) announced today the appointment of veteran media
executive Tom Rogers as President and CEO, effective July 1, 2005.
Rogers succeeds Mike Ramsay, co-founder of TiVo, who announced his
intention to step down as CEO in January after seven years in the
position. Rogers served as Vice Chairman of TiVo's Board, on which
he has served since September, 2003. "This is a very exciting
opportunity for me. Having been at the nexus of where media,
technology, advertising and public policy collide for more than two
decades, I am firmly convinced that TiVo can extend its strong
brand identity and technology platform to the mass market through
broader distribution by various carriers, and through growing its
value as an advertising medium. After pioneering the digital video
(DVR) category, TiVo is now uniquely positioned to help
multi-channel carriers, networks and advertisers grow their
businesses in an environment that presents new realities for how TV
is watched," said Tom Rogers. "I'm excited to be able to work with
the incredible team in place at TiVo to take advantage of the
opportunities the company has, as well as tackle the challenges it
faces. I could not be more honored by the Board's request that I
take on this role," Rogers said. "While we closely considered an
array of highly qualified and prominent candidates for the
position, as we entered our final deliberations in selecting a new
CEO, we as a Board came to Tom and asked him to take on the role.
We could not be more thrilled that we got our top choice to take on
this leadership position," said Randy Komisar, partner at Kleiner
Perkins Caufield & Byers, a founding TiVo board member, and
Chairman of the Nominating and Governance Committee that led the
CEO search. "The Board felt that Tom's vast experience in running
media and internet companies, his proven track record in creating
innovative business models and setting a strategic direction for
companies facing the opportunities new technologies present, along
with his leadership in securing the Comcast deal for TiVo a few
months ago, made him the perfect person to lead TiVo forward," said
Geoffrey Yang, general partner at Redpoint Venture Partners, and a
founding TiVo director. Having recognized early the potential of
TiVo, Tom first joined the TiVo board in 1999, spearheading NBC's
original investment in the Company. He then rejoined the Board in
2003, and took on the role of Vice Chairman of the Board in
October, 2004. At TiVo he has led several initiatives for the
company, most notably the successful negotiation of a mass
deployment deal with Comcast, the world's largest cable company. In
addition to his work for TiVo, Tom was Senior Operating Executive
at Cerberus Capital Management, a large private equity firm. He
also serves as Chairman of Teleglobe (NASDAQ:TLGB), a global
telecommunications, mobile telephony and VOIP provider, and
Chairman of TRget Media, a media investment and advisory firm.
Previously, Tom was Chairman and CEO of Primedia, (NYSE:PRM) the
nation's largest targeted media company. Prior to that, he was
President of NBC Cable, and Executive Vice President of NBC (a
subsidiary of the General Electric Corporation, where he led the
creation of CNBC and the formation of the MSNBC partnership with
Microsoft). Before joining NBC, Tom was Senior Counsel to the U.S.
House of Representatives Subcommittee on Telecommunications,
Consumer Protection and Finance. He began his career as an attorney
at a Wall Street law firm. "I've enjoyed watching Tom's passion for
TiVo grow from his earliest involvement in the Company through his
more recent tenure on the Board. This, coupled with his
contributions to many facets of our business during that time, give
me real confidence that he will be successful in taking the Company
to the next level," said Mike Ramsay. While resigning as Chairman,
Ramsay will continue to serve on TiVo's Board, chairing the
Technology Committee, providing the Board with a perspective on the
key technologies and innovations important to TiVo's success. Mike
Ramsay and Jim Barton, Chief Technology Officer, co-founded TiVo in
1997. "I have gotten to know a large number of the TiVo team
through my board service. It is remarkable to me what this talented
group of people has produced -- enabling consumers to control their
television viewing experience to fit into their individual
lifestyles. Mike Ramsay deserves enormous credit for all that TiVo
is and has achieved," said Tom Rogers. "We are all very grateful
for Mike's patience in the search process, his willingness to
continue to serve on the board and help us maintain TiVo's
leadership technology position with continuing innovation and
differentiation," said Randy Komisar. Howard Fischer Associates
conducted the search that brought Tom Roger's to TiVo's board.
Founded in 1997, TiVo, a pioneer in home entertainment, created a
brand new category of products with the development of the first
digital video recorder (DVR). Today, the Company continues to
revolutionize the way consumers watch and access home entertainment
by making TiVo the focal point of the digital living room, a center
for sharing and experiencing television, music, photos and other
content. TiVo connects consumers to the digital entertainment they
want, where and when they want it. The Company is based in Alviso,
Calif. This release contains certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements relate to, among other things, TiVo's
business, services, business development, strategy, customers or
other factors that may affect future earnings or financial results.
Forward-looking statements generally can be identified by the use
of forward-looking terminology such as, "believe," "expect," "may,"
"will," "intend," "estimate," "continue," or similar expressions or
the negative of those terms or expressions. Such statements involve
risks and uncertainties, which could cause actual results to vary
materially from those expressed in or indicated by the
forward-looking statements. Factors that may cause actual results
to differ materially include delays in development, competitive
service offerings and lack of market acceptance, as well as the
"Factors That May Affect Future Operating Results." More
information on potential factors that could affect the Company's
financial results is included from time to time in the Company's
public reports filed with the Securities and Exchange Commission,
including the Company's Annual Report on Form 10-K for the fiscal
year ended January 31, 2004, and the Quarterly Reports on Form 10Q
for the period(s) ended April 30, 2004, July 31, 2004, October 31,
2004, filed with the Securities and Exchange Commission. We caution
you not to place undue reliance on forward-looking statements,
which reflect an analysis only and speak only as of the date
hereof. TiVo disclaims any obligation to update these
forward-looking statements DATASOURCE: TiVo Inc. CONTACT: media,
Scott Sutherland, +1-415-312-6588, or , for TiVo; or Elliot Sloane,
+1-212-446-1860, or , for TiVo Web site: http://www.tivo.com/
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