Vizio Losing Its CTO, Says Friday's After-Hours Disclosure

Vizio disclosed in an SEC filing after the markets closed for the week Friday that Chief Technology Officer Bill Baxter told the company four days earlier of his plans to resign, effective after an unspecified transition period. Vizio's 8-K said Baxter will continue indefinitely in his current role and will help the company search for a replacement. A Vizio spokesperson declined comment about the circumstances of Baxter's resignation but said the CTO was "instrumental in getting us to this point in our company’s evolution." Baxter has built "an exceptionally talented and committed team to take Vizio to the next level," said the spokesperson. Vizio was within bounds of SEC rules that give public companies up to four business days for filing an 8-K to report the departure of key officers or other major corporate events. Baxter was the former CTO of BuddyTV and joined Vizio in January 2015 after it bought the entertainment-based website, according to Vizio's March 1 registration statement.