TiVo engages interim CFO

TiVo 8K 

Updates:

Great title: TiVo rents new CFO after two-years of churn

Hoagland engaged on 7/9. 8K contains more resume history.

Stock compensation will be based on closing price each month. Stock to be sold during the following month.

From AP & DJ: 

TiVo named Cal Hoagland as interim chief financial officer

Hoagland, 50, is a principal of Financial Leadership Group LLC, a CFO services and board advisory consultancy.

TiVo has agreed to compensate Hoagland and Financial Leadership Group at a base rate of $2,500 per day. Hours in excess of 55 per week will be billed at $350 per hour. TiVo will also issue Hoagland $1,000 per day in fully vested shares of the company’s common stock.

Tivo said the rate, on an annual basis, is about 15 percent greater than Sordello’s expected total annual compensation.

The agreement between TiVo and Hoagland has an initial term of 90 days and can be extended by the company in two-week increments.

Multichannel News: 

Hoagland, 50, joined FLG in May 2005. Previously, he was CFO at Interwave Communications, a wireless-telecommunication-networks-infrastructure company, and he has held financial-management roles at other technology firms.

Why didn’t they just use the fellow from last year again? Is he still there?