- Signs for push-out forces
- After around five years on the job
- Laud for Carson
- Search for a successor
(exechange) — San Carlos, California, May 24, 2017 — Tom Carson, chief executive of TiVo, leaves. As announced by TiVo Corporation in a news release and in a regulatory filing published on Wednesday, May 24, 2017, Thomas (Tom) Carson leaves the post as Chief Executive Officer at the software company in a surprising move after around five years on the job.
Carson will remain in his current capacity until a successor is appointed and will then serve in an advisory capacity to the Board, and new CEO, to ensure a smooth transition.
TiVo will undertake a search for a successor.
No reason given
In the announcement, TiVo did not explicitly explain the reason for Carson’s move, leaving room for speculation.
Precise information about the future plans of Carson was not immediately available.
TiVo said: “President and Chief Executive Officer, Thomas Carson, informed the company’s Board of Directors of his intention to retire from his current positions at TiVo Corporation after more than 11 years with the Company and its predecessors.”
Tivo further said: “On May 23, 2017, Thomas Carson, President and Chief Executive Officer of TiVo Corporation …, notified the TiVo Board of Directors of his intention to retire from his current positions at TiVo.”
Share price decline
The change follows a decline in the share price of TiVo Corporation since February 2016.
Soros holds 3.57 percent stake
Soros Fund Management LLC reported a 3.57 percent stake in TiVo Corporation as of March 30, 2017.
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.
On the job as CEO since 2011
Carson has served as the President and Chief Executive Officer and a member of the Board of Directors of TiVo Corporation (formerly Rovi Corporation) since December 2011.
Prior to becoming CEO, Carson was Executive Vice President, Worldwide Sales and Marketing since May 2008, when the company acquired Gemstar-TV Guide International.
From April 2006 to May 2008, Carson served in various capacities at Gemstar, including President of the North American IPG business and President for the North American CE business.
Prior to joining Gemstar, Carson held various executive positions at Thomson Multimedia Corporation, including Executive Vice President of Operational Efficiency Programs, Executive Vice President, Global Sales and Services and Executive Vice President of Patents & Licensing.
Carson holds a B.S. in Business Administration as well as an MBA from Villanova University.
Generally speaking, when a top manager announces to step down with no successor in place, it is a sign that the change was unexpected and too early.
Signs for push-out forces
It is not completely certain what forces eventually triggered Tom Carson’s move.
The Push-out Score™ determined by exechange suggests that push-out forces may have contributed to the management change.
Read the full story in the exechange report 22.2017 ($).