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TiVo CEO Tom Rogers will depart as chief exec in early 2016 after nearly 11 years, while continuing to serve as chairman of the board, the DVR company announced.

Rogers will relinquish the CEO role effective Jan. 31, 2016, which is the end of TiVo’s fiscal year. He will continue to serve as as non-executive chairman of the board for TiVo. TiVo’s board has formed a search committee to find a new CEO.

“TiVo is a great company today — and I have thoroughly enjoyed the challenge of turning it around and building it from its DVR roots into the leader in providing next-generation TV in the United States and around the world,” Rogers said in a statement.

Rogers said “the board and I agreed that this was an opportune time to seamlessly transition to a new leadership team.”

In an SEC filing, TiVo said it expects to record a one-time pretax charge in its fiscal 2016 fourth quarter of $11 million to $12 million related to Rogers’ exit.

With Rogers’ departure, TiVo board member Dan Moloney has been named lead independent director. Moloney is former president of Motorola Mobility, the cable-technology company acquired by Google in 2011.

Rogers joined TiVo in June 2005. Previously, he was chairman and CEO of magazine publisher Primedia, and before that was president of NBC Cable and exec VP of NBC, as well as NBC’s chief strategist. While at the Peacock, Rogers founded CNBC and established the NBC-Microsoft cable channel and Internet joint venture, MSNBC.

TiVo is scheduled to report its fiscal Q3 2016 results on Nov. 24.