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, CA. - June 27, 2005. 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 (NASD: 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.
About TiVo Inc.
Founded in 1997, TiVo (NASDAQ: TIVO) pioneered a brand new category of products with the development of the first commercially available digital video recorder (DVR). Sold through leading consumer electronic retailers, TiVo has developed a brand which resonates boldly with consumers as providing a superior television experience. Through agreements with leading satellite and cable providers, TiVo also integrates its full set of DVR service features into the set-top boxes of mass distributors. TiVo's DVR functionality and ease of use, with such features as Season Pass™ recordings and WishList® searches, has elevated its popularity among consumers and has created a whole new way for viewers to watch television. With a continued investment in its patented technologies, TiVo is revolutionizing the way consumers watch and access home entertainment. Rapidly becoming the focal point of the digital living room, TiVo's DVR is at the center of experiencing new forms of content on the TV, such as broadband delivered video, music and photos. With innovative features such as, TiVoToGo™ and online scheduling, TiVo is expanding the notion of consumers experiencing "TiVo, TV your way." The TiVo® service is also at the forefront of providing innovative marketing solutions for the television industry, including a unique platform for advertisers and audience measurement research. 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.
TiVo, Season Pass, WishList, TiVo Basic are registered trademarks of TiVo Inc. in the United States and other jurisdictions. All other company or product names mentioned may be trademarks or registered trademarks of the respective companies with which they are associated.