Rumor: TW Cable CEO to Step Down in 2013
Time Warner Cable Inc. Chairman and CEO Glenn Britt will step down at the end of 2013, with current President and COO Rob Marcus viewed as his likely successor, The Wall Street Journal reported Friday.
Predicting Britt's retirement time has been a popular topic among industry insiders the past couple of years. A 2013 exit would seem to fit time-wise, as Britt's contract with the operator expires this December. On top of that, TW Cable just instituted a major restructuring that centralizes most of its operations and divides the company into three distinct business units (residential services, business services and media services) that all report to Marcus. (See TW Cable Centralizes (Almost) Everything.)
TW Cable isn't confirming Britt's near-term plans, whatever they might be. "Glenn is under contract and if and when he decides to step down, we'll have an announcement," a spokesman said in a statement to Light Reading Cable.
Britt's pretty much seen it all. He's been on board through cable's fiber age, its digital transition, the introduction of cable data and voice services, and on through today's multi-screen era.
Britt, 63, joined Time Inc. in 1972 in the controller's department and in 1974 became VP and treasurer of what was then known as Manhattan Cable Television Inc. He was named president and CEO in 2006, and tacked on the chairman of the board role in March 2009.
— Jeff Baumgartner, Site Editor, Light Reading Cable