Digital-video-recorder supplier TiVo elected respected media consultant Thomas Wolzien to its board of directors, where he will serve as an independent director and a member of the audit committee.
The 60-year old Wolzien -- who began his career as a cameraman at a Denver TV station and went on to become vice president of news operations and then VP of cable for NBC -- is best known for his insightful coverage of broadcasters and cable companies while serving as a senior sell-side media analyst at Wall Street research firm Sanford C. Bernstein.
Wolzien -- who also holds several patents relating to putting Web links into TV signals -- left Bernstein in 2005 and founded his own firm, Wolzien LLC, to provide consulting and advisory services to media and communications companies.
“Tom has a deep understanding of the media and communications industries, and his insights and advice will undoubtedly strengthen our board of directors and help our management team to develop strategies that will grow the TiVo brand worldwide,” TiVo CEO Tom Rogers said in a statement. “We are pleased to welcome someone of Tom’s reputation and experience to our board.”
For his efforts, Wolzien will receive 8,300 shares of restricted TiVo stock, worth some $58,100 based on Thursday’s closing price of $7 per share, and 25,000 stock options with a strike price of $7.22.
“When you think of game-changing initiatives in media, TiVo tops the list,” Wolzien said in a statement. “It will be a privilege to work with Tom Rogers and the board as they direct the continuing evolution of this company.”
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