Tivo Founder Departs Company

Posted September 7th, 2007 by Jose Alvear

Somehow this bit of news slipped past lots of people. The San Jose Mercury News said that Tivo founder and former CEO Michael Ramsay left the board of directors on August 30 to become a venture partner at New Enterprise Associates.

Zatz Not Funny said there’s probably not much to this departure, since it happens all the time. That’s probably true. Tivo is pretty well on its own and doesn’t need Ramsay, although apparently he will consult with Tivo. But details are shaky.

Says the Merc:

“Ramsay had stepped aside as CEO two years ago at the much-loved but perpetually financially shaky digital video recorder pioneer. But the details of his leaving are a bit, well, thin. In the filing, the company simply notes that it signed a “consulting and transition” agreement with Ramsay and that it expects to ”incur approximately $3 million in non-cash stock-based compensation expense in connection with the agreement.”

Posted in Tivo

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