Marty Yudkovitz, president of TiVo Inc., resigned Jan. 31 but will consult with the company for the near future.
President since May 2003, Yudkovitz is the second top exec of the company to announce his resignation in less than a month.
Mike Ramsey, chairman and CEO, announced that he was resigning on Jan. 12.
Ramsey is still serving as chairman and CEO as the company looks for a replacement. Yudkovitz says now is a logical time to resign and re-acquaint himself with his wife and kids because he has spent most of the past two years traveling between both coasts.
His resignation prolongs a rough patch for the DVR maker, which began the year by ending its relationship with DirecTV.
Nearly 70% of recent TiVo subscribers have been DirecTV customers, but now DirecTV will build its own DVR set-top boxes. Share’s of TiVo fell about 5%, to $3.85, on the news of Yudkovitz's and Smith Barney Citigroup downgraded it to “sell.”.