- After about a year in the position
- Jon Kirchner taking over
(exechange) — San Jose, California, June 1, 2020 — Dave Shull, chief executive of TiVo, leaves. As announced by TiVo Corp. in a news release and in a regulatory filing published on Monday, June 1, 2020, David M. (Dave) Shull leaves his post as chief executive officer at the technology company after about a year in the role, effective immediately.
Dave Shull’s duties as CEO will be taken over by Jon E. Kirchner, most recently Chief Executive Officer of Xperi Corporation.
Dave Shull’s departure from the CEO post is explained as follows. TiVo said: “As previously disclosed, effective June 1, 2020, Xperi Corporation (“Xperi”) and TiVo Corporation (“TiVo”) completed the previously announced merger of equals transaction contemplated by the Agreement and Plan of Merger and Reorganization, dated as of December 18, 2019, as amended on January 31, 2020, (the “Merger Agreement”), by and among Xperi, TiVo, Xperi Holding Corporation (f/k/a XRAY-TWOLF HoldCo Corporation) (“Xperi Holding”), XRAY Merger Sub Corporation (“Xperi Merger Sub”) and TWOLF Merger Sub Corporation (“TiVo Merger Sub”).”
TiVo said: “In connection with the consummation of the TiVo Merger, effective as of 10:00 a.m. Pacific time on June 1, 2020, (i) all members of the then-current Board were replaced by Jon Kirchner, John Allen and Paul Davis, (ii) David Shull delivered to TiVo a letter of resignation resigning from the office of Chief Executive Officer and President, (iii) Wesley Gutierrez delivered to TiVo a letter of resignation resigning from the office of Chief Financial Officer and Treasurer and (iv) Pamela Sergeeff delivered to TiVo a letter of resignation resigning from the office of General Counsel and Secretary. Immediately thereafter, the then-current Board appointed (a) Jon Kirchner as Chief Executive Officer and President of TiVo, (b) Robert Andersen as Executive Vice President and Chief Financial Officer of TiVo, (c) John Allen as Senior Vice President and Corporate Controller of TiVo and (d) Paul Davis as Senior Vice President, General Counsel and Corporate Secretary of TiVo.”
Share price decline
The announcement follows a decline in TiVo Corp.’s share price of 14% since June 2019.
In the position of CEO since 2019
Dave Shull became CEO of the Company in 2019.
Dave Shull served as president and CEO and a member of the Board of Directors of TiVo since May 31, 2019.
Dave Shull has over 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, which was sold in a competitive bidding process in 2018.
While at The Weather Channel from 2015 to 2018, Shull overhauled the organization to streamline operating costs, separated the digital assets from its television and OTT products resulting in the successful sale of its digital businesses to IBM in 2016, and oversaw record-setting ratings during major hurricanes.
Prior to The Weather Channel, Shull held various executive roles at DISH Network/EchoStar for 10 years, including Executive Vice President and Chief Commercial Officer, Senior Vice President, Programming, Senior Vice President and Managing Director, Asia Pacific, and Vice President, Operations.
Shull holds a B.A. from Harvard University and an M.B.A. from Oxford University.
Push-out Score not determined
When a company convincingly explains that the departure is due to personal or business reasons that are unrelated to the firm’s activities, a Push-out Score™ is not determined.
Read the full story in the exechange report 23.2020 ($).