TiVo to Replace their CEO
TiVo Announces CEO Succession Plan
TiVo is out this morning with news that Chairman and CEO, Michael Ramsay will be stepping down as CEO and they are presently trying to identify a successor. Ramsay will remain as Chairman of the Board and in the CEO post until a successor is identified.
Although one of the first successful PVRs to market with a brand name that has become synonymous with PVR functionality, over the past few years many have criticized Ramsay for being unable to properly market, define and delineate the TiVo experience among what is seen as a growing crowded field of significant competitors in the PVR marketplace. And even as the firm has had subscriber growth over the past year, many people have criticized this growth as mostly coming from their DirecTV partner who most recently has been announcing and promoting their own competitive DVR product.
Although many technology stocks fared poorly in the recent bear market, under Ramsay TiVo's stock has done particularly poorly. TiVo was trading at around $57 per share at the top of the market and today sits at about $4 per share having lost over 50% of it's value over the last year and over 30% of it's value just since January 1st when most technology stocks have been recovering.
All I have to say about this decision out from TiVo this morning is
1. It's about friggin' time!
and
2. How come you’re keeping the bozo around as your Chairman?
The challenge will be for the already cash strapped TiVo to find a suitable replacement without giving away the farm. If Ramsay's involved in choosing his replacement, don't worry, he will probably screw this up to.
TV Harmony speculates that TiVo should go after Mark Cuban as their new CEO.
CNET's coverage.
Update: NEW YORK, Jan 12 (Reuters) - TiVo Inc. (TIVO.O: Quote, Profile, Research) chief executive Michael Ramsay, looking to correct what he said was erroneous speculation, on Wednesday said he is not stepping down due to any plans for the sale of the company.
Ramsay told Reuters he was resigning because the television recording technology maker's strategy is changing.
"The company is not for sale," Ramsay said in an interview. "The change in management has nothing to do with the possible sale of the company."
He added that in moving TiVo's strategy toward features that such as online commerce and Internet transmission of video, "this is ... a good time to think about bringing in new leadership."
posted by Thomas Hawk at 7:19 AM
15 Comments:
You know nothing about what you are talking about.
Mike, I do know what I'm talking about. It's not personal buddy. A lot of people like you. You're a good person. Think of the bright side. You've gotten to dump a lot of stock over the course of the last year and pocketed quite a bit of money.
There's more to a CEO's job performance than how a company's stock price does. You sound like an annoyed investor who bought near the peak of the bubble. What exactly were his specific mis-deeds? As a customer I have had a TiVo for over two years and I've been very happy with the product.
But in addition to not knowing what you're talking about, you can't spell ("to" vs. "too", "its" vs. "it's"). You're the worst kind of armchair CEO. How many successful companies have you run?
-- Not Mike
Sure thing Mike.
This post has been removed by a blog administrator.
Misdeeds
1. It would have been simple to build a multi tuner system much earlier in the process. A single tuner standalone box is unacceptable these days.
2. The DirecTV HDTV box had excellent sales. TiVo should have pursued an HDTV strategy for a standalone box much earlier.
3. Instead of doing either of the above the company spent the last year working on TiVo to Go which only works with less than 50% of their customers.
4. They should have sold their brand name recognition to another company while the stock was still up rather than let the vultures pick it up in bankruptcy court.
5. They should have negotiated better with the content providers and brought more original content to the TiVo platform.
6. They should have been more open and transparent with their customers about the state of their pipeline and allowed their customers to better evangelize their products.
7. They were a weak negotiator with DirecTV when they had a much stronger hand. They took too little and gave too many concessions in terms of giving up control over the hardware (disabling USB ports, HMO, etc.).
8. The whole ads over ad skipping technology was a huge PR blunder that will not provide any type of significant revenue to the firm in time to work.
Amongst other things.
I’ve never been burned by TiVo’s stock because I’ve never owned it – although I do own two TiVo machines and appreciate the technology. The bottom line is that Ramsay did not do a good job running the business. Don’t take my word for it, take the stock market’s word for it.
Well said Thomas - and your conclusions were so obvious that its not even fair to call it Armchair CEOing...
If they made an analog two tuner TiVo you would be saying they made the TiVo too expensive instead.
You can not make a good HD box without either integrating into the settop box or using cable card. This also applies back to the two tuner model, without cable card a two tuner model of any standalone type would be too cumbersome or expensive. Can you picture two IR balsters going to two cable boxes.
The complain that TiVo let DirectTV get too much control of the DirectTiVo box and then also complain that TiVo did not negotiate better with cable companies. All the cable companies wanted was the TiVo software at rock bottom prices. How in the world do you reconcile that both were mistakes?
TiVos only real mistake is that they did not badger the FCC constantly to get the cable card spec out so TiVo can get down the Stand alone road more easily, but if TiVo can bleed slow enough to see the cable card TiVo come out they will be well positioned in the new - who needs what the cable company tries to foist on us market.
so in short - You do not know what you are talking about
I've been a TiVo owner since the first generation and I love it. But the results speak for themselves. The company has been run poorly for all the reasons stated above.
The only thing Thomas is wrong about is the simplicity of a dual tuner standalone box. Without CableCards it's not really feasible.
But Sony has had CableCard products out for almost 6 months. It's TiVo's fault that they are still over a year away from a CableCard product. You can't blame that on the FCC.
It's so easy to throw rocks in your dumb blog when you have no idea what you are talking about.
So ironic that someone with your perfect judgement would say "don't worry, he will probably screw this up to."
when I guess you mean, "too"? I think you screwed that up, guy. You're fired.
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I believe TiVo biggest mistake was the whole monthly fee thing. People hate of monthly payments (at least I do).
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心中一阵不安升降机，因为我忽然又想起了那道剑光升降平台，可怕的剑光升降台，美丽的剑光登车桥。为什么那一剑是那么的美丽货架，却又那么的可怕呢集装袋？在我倒下之前我说地磅，好美的剑塑料托盘，好恨的剑塑料托盘。我倒下了仓储笼。在我失去知觉之前仓储笼，我听到他说北京货架，这叫艺术超市货架，剑的艺术北京货架。
我并没有死广州货架，原来我的心是在右边仓储货架，而是不是左边货架厂。所以在那穿胸一剑之下我并没有死南京货架。
是一阵暴雨把我冲醒了货架公司。听说雨是上天的眼泪深圳货架，也许这天又有人死在那美丽的剑光之下吧服装货架！我张开嘴巴托盘，任雨水打进我的嘴托盘，直冲我的胃塑料托盘。我的伤口又开始流血塑料托盘，但已经不痛了木托盘。试问：仓储笼一个心已经死了的人仓储笼，肉体上的疼痛又算得了什么呢仓储笼？我知道我的刀再练一百年也无法那么美丽仓储笼，那么恨托盘，而且永远别想杀了他托盘。
我退出江湖了手推车，我没有通知江湖上的朋友们静音手推车，并来一个什么金盆洗手静音手推车，因为我的朋友们差不多都被他杀了置物架。我悄悄的走了置物架，隐进了山林之中堆垛架。俨然一个世外高人的样子堆垛架，每天一壶绿茶登高车，放在身边的几上登高车，然后或盯着一朵白云超市手推车，或盯着一片树叶物流手推车，或双目紧闭物流台车。我的刀在玉盆中泡了七七四十九天角钢货架，已经没有血腥味了角钢货架。然后我把它放在我的屋顶轻型货架，任它风吹雨打轻型货架。
十年就这年过去了中型货架。为何今天天忽然想起那柄剑中型货架，那道剑光重型货架？而且内心为什么如此不安重型货架？不应该是这样的仓库货架，对于一个喝了十年绿茶的人来说服装货架，面对死上海货架，也已不再惧怕精品货架，不再不安苏州货架，但今天又为何如此呢托盘货架？
莫非是他青岛货架，和他的剑库房货架，加上他的剑光沈阳货架。我已不问江湖之事天津货架，想他十年前也应该坐上武林盟主的位子了杭州货架，一个武林中人做了武林盟主山东货架，这一生还有什么要求的呢文件柜？
我不停的喝着绿茶工具柜。绿茶静心工具柜。但此时怎么也静不下来零件柜。茶已尽工作台。平时茶尽之时工作台，正也是日落之时工作桌。
一定快有什么事情发生了工作桌。
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我问反光背心：为何还来找我滚针轴承，我已在十年之前就退出江湖了夜光粉。
他说文化石：因为你没死缎带，因为我没有对手风火轮。
我说激光打标机：十年前已不是你的对手平衡机，何况现在十年未动刀大功率led。
他说磁力泵：放眼天下梯子，只有你一个人是我的对手网眼袋，也只你一个人对我的威胁无尘布。
我不再说话手摇手电筒，因为我不知道说什么手板，我知道我十年前就开始找我毛巾布，发现我没有死就开始找我磁钢。我不死促销台，他心不安模具钢材。
他说时尚配饰：拿出你的刀筛网。
我说齿轮泵：我已无刀天使花房，命托辊，亦可有可无色丁。
他盯着我广告衫，握剑的手越来越紧钢坯，我知道那道美丽的剑光可能随时发出过滤网。在那美丽过后疏水阀，我的生命将画上句号胸章。
阳光照在了刀上发热管，反射到他的脸上手机耳机。他发现了那把刀螺杆，我的刀插销，宝刀蝴蝶，没有鞘的刀工具包。
刀已在我手中点钞机，刀还是那把刀配电箱，人却已不是那个人流苏，因为心不是那颗心沙滩巾。
他为了杀我竟找了我十年氯化镁，而为了和我比武竟帮我从屋顶拿下我的刀来双面胶带，并放在我的手中碳纤维。我忽然发现排线，他也变了汽车座垫，他在后悔十年前将所有高手都杀绝珍珠奶茶。
高手的悲哀太阳伞。
我握紧了刀桥架，我看着他的眼tpr，已经不再像十年前那样明亮了钢丝。
他的剑划出柴油发电机组，划出一道美丽的剑光护栏。我想围栏，这十年他大概在不停地使自己的剑光更美围栏。
我的刀也出了隔离网。简单的动作隔离网，一刀刺进了他的胸网片。那道美丽的光忽然停止网片，停在我的衣服上南京货架。
他说北京货架：这也是艺术北京货架，杀人的艺术北京货架，想不到你十年不动刀还懂这个艺术仓储货架。
我说仓储货架：因为我不想再让你痛苦了广州货架。
他说广州货架：谢谢货架厂。
我走了货架公司。我头也不回的走了塑料托盘。没有取回我的刀塑料托盘，因为我觉得它在我身边已经没用塑料托盘，我后悔我十年前为什么不扔了它塑料托盘？我听到了尸体倒下的声音塑料托盘。我流泪了塑料托盘，我真的不想杀他仓储笼，十年前不想仓储笼，十年后也不想仓储笼，因为我下山时答应过师父仓储笼，一切让着他仓储笼。
我叹了一口气仓储笼。远去仓储笼。
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