TiVo Corp. announced after the market closed on Wednesday that Chief Executive Thomas Carson plans to retire from his position after more than 11 years with the company (formerly Rovi Corp.). The company’s board said the process to find a new CEO has already begun and will consider external candidates as well as internal. Carson will stay in his current role until his successor is appointed, at which point he will serve as an adviser. “Under Tom’s leadership the company has undergone a significant transformation; shedding underperforming assets, cutting costs, renewing major intellectual property licensing deals and acquiring TiVo,” said Chairman Jim Meyer in a statement. Last year, Rovi acquired Tivo in a $1.1 billion deal. Shares of TiVo were inactive in after-hours trade, but have declined more than 20% in the year to date, while the S&P 500 index is up more than 7%.
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