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Ramsay Stepping Down at TiVo

TiVo Inc. chairman and CEO Michael Ramsay said Wednesday that he will give up the CEO post.

Ramsay will retain both titles until a successor is named at the digital-video-recorder vendor, at which point he will stay on as chairman, TiVo said.

Howard Fischer Associates of Philadelphia, Silicon Valley and Boston will conduct the search for a new CEO, the company added.

“Founding TiVo with Jim Barton [in 1997] and growing the company into a major consumer brand has been the thrill of a lifetime,” Ramsay said in a prepared statement. “We have had a fundamental impact on television viewing, and I believe strongly that the company has huge upside potential, in a massive market, going forward.”

He continued, “The time is right for me, personally and professionally, to bring in an outstanding CEO to lead the company so that I can focus on future strategy. I feel that this is a great opportunity for the right person to run one of the industry's most exciting companies, and I look forward to recruiting a new CEO who will help the company to realize its full potential.”