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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, Calif., June 27 /PRNewswire-FirstCall/ -- 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 (NASDAQ: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.
Founded in 1997, TiVo, a pioneer in home entertainment, created a brand new
category of products with the development of the first digital video recorder
(DVR). Today, the Company continues to revolutionize the way consumers watch
and access home entertainment by making TiVo the focal point of the digital
living room, a center for sharing and experiencing television, music, photos
and other content. TiVo connects consumers to the digital entertainment they
want, where and when they want it. 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
DATASOURCE: TiVo Inc.
CONTACT: media, Scott Sutherland, +1-415-312-6588, or
, for TiVo; or Elliot Sloane, +1-212-446-1860, or
, for TiVo
Web site: http://www.tivo.com/