Time Warner Cable Inc's longtime chief executive and chairman, Glenn Britt, will step down at the end of the year and be replaced by Robert Marcus, the company's second in command.
Britt has been CEO since 2001. Marcus will become CEO and will join the company's board of directors as chairman starting Jan. 1. He was promoted to chief operating officer and president in 2010. There are no immediate plans to replace him as president.
The executive shuffle comes as just as Time Warner Cable, the second largest US cable provider behind Comcast, with 12 million customers, has become an acquisition target for John Malone, chairman of Liberty Media Corp.
Malone, whose media holding company has an investment in cable provider Charter Communications Inc, made an offer for the company, but it was rejected because it was not viewed as beneficial to Time Warner Cable shareholders.
Time Warner Cable purchased Insight Communications, a Midwest cable operator, for $3 billion in 2011.
Source: http://cablequest.org/news/international-news/item/2895-time-warner-cable-gets-new-ceo.htmlSource: http://cablequest.org/news/international-news/item/2895-time-warner-cable-gets-new-ceo.html
Source: http://cablequest.org/news/international-news/item/2895-time-warner-cable-gets-new-ceo.htmlSource: http://cablequest.org/news/international-news/item/2895-time-warner-cable-gets-new-ceo.html
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