When news of TiVo co-foudner and Chief Technology Officer Jim Barton’s resignation hit, I didn’t think it required more than a tweet given our primary focus here. Or, perhaps, I was just preoccupied with my new iPad. Regardless, we’ve decided to chime in after receiving a few tips and analyst inquiries. From TiVo’s SEC filing:
On March 14, 2012, James Barton resigned from his position as Chief Technology Officer and Senior Vice President for TiVo Inc. effective March 16, 2012. In connection with Mr. Barton’s resignation, we plan to enter into a consulting agreement with him to continue to provide certain consulting services related to patent matters, litigation, and certain technical matters to the company until March 15, 2015, unless earlier terminated by either Mr. Barton or the company. During the term of his consulting agreement, Mr. Barton shall be paid $25,000 per month. During the consulting agreement, Mr. Barton will continue to vest in his current equity awards.
The bulk of notes coming my way are related to the reasons why Barton might have stepped down. And the tenor of Deadline’s coverage seems to have planted the seed that Barton could have been forced out. So I checked in with a former TiVo exec, off the record, who finds that theory “doubtful.” Yet, as one analyst wondered, why would Barton choose this time to make a move when TiVo seems to finally be firing on all cylinders in relation to business relationships and patent litigation. The bottom line is that folks change jobs all the time, for reasons both big and small. And those outside of Barton’s immediate circle will likely never know his motivation. But, whereas the Verge suggests his departure will be a big loss for TiVo, I see it as an even larger opportunity.