TiVo CEO Enrique Rodriguez is leaving the company, effective immediately, after less than a year in the role, the company said Thursday.
Rodriguez is also stepping down as a member of TiVo's board, and will become Chief Technology Officer at Liberty Global in Europe. Board member Raghu Rau will step in as interim president and CEO. The board has already begun the search for a permanent replacement.
"We are fortunate to have a world-class leadership team in place and are pleased to have someone of Raghu's caliber step in to lead the Company," James Meyer, chairman of the board, said in a statement.
Rodriguez was named as CEO at the media company in November, succeeding longtime president and CEO Thomas Carson. Before taking the helm at TiVo, Rodriguez had previously held executive positions at AT&T and Sirius XM.
"My personal decision to pursue another opportunity was not easy. I couldn't be more excited about what lies ahead for TiVo," Rodriguez said in a statement.
Shares of TiVo dropped roughly 2 percent in early trading Thursday.