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DVR vendor/service provider, TiVo, has appointed Steve Sordello as SVP and CFO, effective August 21st. He replaces Stuart West, who has served as acting CFO for the past four months and who TiVo says is now leaving the company "to pursue another opportunity." Sordello served as CFO of Ask Jeeves from 2001 to 2005, leaving that company after it was acquired by IAC/InterActiveCorp. Prior to that, he held senior executive positions at Adobe Systems and Syntex Corp. He will be paid $290,000 per year and will receive a target annual bonus equal to 50% of his salary, based on his performance against certain pre-established criteria. He also receives options to purchase 450,000 shares of TiVo common stock (25% of which will vest on the first anniversary of their grant, with the remainder vesting at a rate of 1/36th per month over the next three years) and 15,000 shares of restricted stock (100% of which will vest on the first anniversary of their grant). "Steve is a fantastic addition to the senior management team at TiVo," TiVo CEO, Tom Rogers, said in a prepared statement. "His experience in building substantial equity value at Ask Jeeves will be critically important as TiVo moves forward with its strategy of differentiation, distribution, and deployment of advertising solutions. I look forward to working closely with Steve as we work to unlock TiVo’s potential." Added Sordello: "Having spent many years in the online search industry, I fully recognize the unique value TiVo can deliver to both consumers and advertisers. TiVo’s unique approach to searching and finding programs in a way viewers find simple and convenient, while delivering unique and targeted advertising solutions, is clearly defining the future of the television industry."

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