TiVo names new president/CEO
TiVo's (NASDAQ:TIVO) board of directors has unanimously elected Dave Shull to the position of president and CEO and a member of the board, effective May 31 ...
TiVo's (NASDAQ:TIVO) board of directors has unanimously elected Dave Shull to the position of president and CEO and a member of the board, effective May 31. Interim President and CEO Raghu Rau will assume the role of vice chairman on the company's board.
"We are thrilled to announce Dave Shull as Raghu's successor," said Jim Meyer, chairman of TiVo's board. "In addition to Dave's deep experience in the pay TV, OTT and digital media fields, he has a strong track record of driving value creating strategic outcomes and operational transformations, most recently at The Weather Channel and before that at DISH. Dave knows our industry extremely well, having been a part of it in senior executive roles for over 15 years. He also has significant M&A experience and is the right person to lead TiVo's separation process, which we believe will result in significant value for our stockholders."
"I want to thank Raghu for stepping in and leading TiVo during this critical time in the company's evolution and for the important role he will continue to play on our board," said Meyer. "As vice chair, Raghu will provide continuity in ongoing discussions with strategic parties, continued support on TiVo's licensing resolution strategy with Comcast, and additional support as needed in the separation of TiVo's two businesses. Raghu's leadership has resulted in the planned launch of three new ground-breaking products, continued growth in our licensing business and the decision on our strategic direction."
"I am honored and excited to be selected by the board to lead TiVo and its employees, and I look forward to leading the company's next phase," said Shull. "I believe in the company's strategic direction, and my focus will be on driving the execution of that strategy on both the separation and potential transaction front. My understanding of the industry, experience with strategic transactions, and demonstrated ability to drive cost efficiencies can be instrumental in creating meaningful value for TiVo's stockholders."
Shull has more than 15 years of senior leadership experience in the pay TV, OTT and digital media fields. Most recently, he served as the CEO of The Weather Channel cable network. Prior to The Weather Channel, he held various executive roles at DISH Network/EchoStar.
Rau said: "It has been my pleasure and an honor to lead TiVo for the last 11 months. My role was always contemplated to be an interim step, and now is the right time to transition the leadership to someone who can lead the process for TiVo's future. The board has worked diligently to find a CEO of Dave's caliber who can execute on both our strategic direction and the five-pillar growth with profitability plan that we have successfully developed over the last year. I look forward to working with Dave to deliver value to our stockholders."