Rob Marcus will take the reins of Time Warner Cable on Jan. 1, 2014, after Glenn Britt, current CEO and chairman, retires at the end of the year.
Marcus also has been elected to Time Warner Cable’s Board of Directors, effective immediately.
Britt, 64, became Time Warner Cable’s CEO in 2001. During that time, Britt has built Time Warner Cable into a $21 billion stand-alone business from a $6 billion operating division of Time Warner.
Marcus, 48, joined Time Warner Inc. in 1998 and moved to TWC in 2005. He was named chief financial officer in 2008, and worked side by side with Britt during TWC’s 2009 spin-off from Time Warner Inc. Since that time, TWC’s stock price has risen 360%, outperforming all the major indexes and the industry as a whole, the company noted.
Brief Take: Changes at top executive levels always mean change. Time Warner Cable is currently tangled in tough retrans negotiations, and faces other sticky issues going forward, such as TV Everywhere and how to deal with the exploding SVOD market.
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