Time Warner Cable closed out the day with an executive shuffle at the very top of the company.
Compared to some other CEO departures this week, Time Warner Cable’s executive shuffle looks more seamless.
The cable provider’s current chairman and chief executive officer, Glenn A. Britt, announced on Thursday that he is stepping down at the end of calendar year 2013.
Britt, who has served as Time Warner’s CEO since 2001, will be replaced by Robert D. Marcus, who already serves as president and chief operating officer for the New York City-headquartered company.
Marcus joined Time Warner Inc. in 1998, moving to TWC in 2005, and was then named chief financial officer in 2008. He was later moved to COO in 2010.
Elected by the Time Warner Cable board of directors, Marcus will step into his new roles on January 1, 2014.
Until then, Marcus will continue in his job as COO. He has also been elected to the board, effective immediately.
Britt won’t be departing Time Warner entirely. Once retired from the CEO gig, Britt will sit on the board of directors in a non-executive role at that time.
Some of the other executive shuffles seen earlier this week include Juniper Networks' Kevin Johnson, who will be resigning as soon as the network security solutions provider can find a replacement.
Polycom CEO Andy Miller also stepped down, but under more suspicious circumstances given that the reason provided by the unified communications company was that it had something to do with an irregular expense report.