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TiVo CFO Resigns to Join Startup

TiVo announced late Thursday that chief financial officer Steve Sordello -- who joined the company less than one year ago -- resigned to become the CFO at a “well-known” venture-funded company based in Silicon Valley.

TiVo, which didn’t identify Sordello’s new employer, said it initiated a search for a new CFO. Sordello agreed to assist in the transition of his duties.

Before joining TiVo in August 2006, Sordello was CFO at search engine Ask Jeeves, now part of Barry Diller’s InterActiveCorp. He also worked at Adobe Systems and Syntex.

In a prepared statement, Sordello said: "I have enjoyed my time at TiVo and I remain convinced that TiVo's unique and attractive business model clearly positions the company to effectively capitalize on the many opportunities in front of it. While I am sorry that I will not be at TiVo to see these opportunities come to fruition, I felt the upside opportunity offered to me was just too compelling to pass up."