Interim president Raghu Rau will become vice chairperson of the firm’s board of directors.
“We are thrilled to announce Dave Shull as Raghu’s successor,” said Jim Meyer, chairman of the board of directors. “In addition to Dave’s deep experience in the Pay-TV, OTT and digital media fields, he has a strong track record of driving value creating strategic outcomes and operational transformations, most recently at The Weather Channel and before that at Dish. Dave knows our industry extremely well, having been a part of it in senior executive roles for over fifteen years. He also has significant M&A experience and is the right person to lead TiVo’s separation process, which we believe will result in significant value for our stockholders.”
Shull said: “I am honored and excited to be selected by the Board to lead TiVo and its employees, and I look forward to leading the company’s next phase.
“I believe in the company’s strategic direction and my focus will be on driving the execution of that strategy on both the separation and potential transaction front. My understanding of the industry, experience with strategic transactions, and demonstrated ability to drive cost efficiencies can be instrumental in creating meaningful value for TiVo’s stockholders.”
Shull has over 15 years of senior leadership experience in the Pay-TV, OTT and digital media fields. He joins Tivo from The Weather Channel where he was appointed CEO in 2015. 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.
The company also gave updated guidance for the year, raising its expectations for the 2019 Fiscal 2019 from those given on May 9 2019. Tivo expects revenues to range between US$644-660 million (€495-507 million), up from US$640-654 million (€492-503 million). This is in addition to a GAAP loss before taxes of US$72-80 million (€64-71 million), lowered from the previous range of US$75-87 million(€67-78 million).
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