Peter Halt stepped down as CFO of TiVo Corp. following the recently announced agreement to combine TiVo and Xperi Corp. in a $3 billion transaction.
In an SEC filing, TiVo said Halt's departure is unrelated to the company's "financial reporting or disclosure controls and procedures." Halt will remain with the company in an advisory role beginning Jan. 2 through March 31 to facilitate a smooth transition of duties.
TiVo's board approved the appointment of Chief Accounting Officer Wesley Gutierrez as the company's new CFO. Gutierrez will serve as the company's principal financial and accounting officer until the earlier of his cessation of employment or the board's appointment of his successor.
Xperi and TiVo boards approved the transaction, which is expected to close during the second quarter of 2020, subject to approvals and customary closing conditions.