- Push-out Score suggests push-out forces
- After less than one year in the position
- Thanks and good wishes for Rodriguez
- Raghu Rau taking over in the interim
- Search for a successor
- Rodriguez spoke at length and said 80 words
(exechange) — San Jose, California, July 5, 2018 — This news came the day after Independence Day. Enrique Rodriguez, chief executive of TiVo, leaves. It is an abrupt change. As announced by TiVo Corporation in a news release on Thursday, July 5, 2018, Enrique Rodriguez leaves his post as Chief Executive Officer at the software company after less than one year in the role, effective immediately.
No company wants a CEO to flame out in the first year.
Among the 3,000 largest publicly held companies incorporated in the U.S. based on market capitalization, the average tenure of the CEOs who departed over the past 12 months was 9.5 years, according to data compiled by exechange. Only 3 percent of the CEOs who departed over the past 12 months left the position within their first year. Around 10 percent left the position within two years, and 21 percent left the position within three years.
TiVo will undertake a search for a successor.
Rodriguez’s duties will be taken over in the interim by Raghavendra (Raghu) Rau, a former Chief Executive Officer of SeaChange International Inc.
Already a director
Rau is already a director of TiVo. Often a board member is a last resort, someone who is turned to in desperation when a company cannot find suitable candidates. On the other hand, directors-turned-executives represent a blend of outsider and insider.
They don’t have the constraints of a pure insider when it comes to leading painful changes or making unpopular decisions, and they have more company knowledge than a pure outsider.
Having been a director, Rau understands the expectations and dynamics of the board and has knowledge of TiVo’s organization, risk-management practices and strategy.
Rodriguez will be CTO at Liberty Global
“The appointment follows Enrique Rodriguez’s personal decision to resign from his role as TiVo’s President, Chief Executive Officer and a member of the Board of Directors to assume a position as Chief Technology Officer at Liberty Global in Europe, one of TiVo’s long-time global customers,” TiVo said.
Liberty Global is a telecommunications and television company.
Liberty Global announced that Enrique Rodriguez will join the company as Executive Vice President & Chief Technology Officer (CTO), starting in late July.
Share price decline
The change follows a decline in the share price of TiVo Corporation since December 2016.
Chaired by James E. Meyer
TiVo Corporation is chaired by James E. Meyer.
Meyer has served as Chief Executive Officer of Sirius XM Radio since December 2012.
In the position of CEO since 2017
Rodriguez has served as the President and Chief Executive Officer and a member of the Board of Directors of TiVo since November 2017.
Prior to becoming CEO, Rodriguez was Executive Vice President and Chief Technical Officer of AT&T, Inc.’s Entertainment Group from August 2015 to November 2017.
From January 2013 to July 2015, he served as Executive Vice President, Operations and Products of Sirius XM and was Group Vice President of Sirius XM from October 2012 to January 2013.
Prior to his employment at Sirius XM, Rodriguez was the Senior Vice President and General Manager of Cisco Systems’ Service Provider Video Technology Group.
Rodriguez also held various executive positions at Microsoft from 2003 to 2010, including Corporate Vice President for the TV Division and as Vice President of Xbox Partnerships.
Prior to joining Microsoft, Rodriguez spent over 20 years at Thomson/RCA in a variety of engineering and executive roles where he was awarded over 25 U.S. patents and international derivatives.
Rodriguez holds a B.S. in electrical engineering from Mexico’s Instituto Tecnológico de Monterrey.
Rodriguez will remain at TiVo in an advisory role to ensure a smooth transition.
Push-out Score suggests push-out forces
It is not completely certain what forces eventually triggered Enrique Rodriguez’s sudden move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the change.
Read the full story in the exechange report 28.2018 ($).