logo
Plus   Neg
Share
Email

Time Warner Cable Names Robert Marcus President, COO - Update

TimeWarnerCable TWC 121410

Time Warner Cable Inc. (TWC), Tuesday appointed Robert Marcus President and Chief Operating Officer, effective immediately, following the resignation of Landel Hobbs as COO. Marcus is currently the Chief Financial Officer of the company as well.

Marcus will also continue to serve as CFO temporarily while the cable TV provider identifies a successor for him. He will continue to report to Glenn Britt, Chairman and CEO.

Commenting on the appointment Britt observed, "Rob's intelligence, strategic insight and clear understanding of consumers have distinguished him as one of the strongest CFOs in corporate America. As President and COO, he will no doubt lead the company to further success at a time of great opportunities and challenges in the communications marketplace."

Marcus joined Time Warner Cable in 2005 as Senior Executive Vice President, responsible for corporate groups including mergers and acquisitions, business affairs, programming, and human resources. He became the company's CFO in January 2008.

Previously, he had been associated with the cable company's parent Time Warner Inc. in various leadership positions, including that of Senior Vice President of Mergers and Acquisitions.

The outgoing COO, Hobbs, served Time Warner Cable as Executive Vice President and CFO since 2001, responsible for finance, accounting, treasury, tax, facilities and information technology. He was made the COO in 2005.

Prior to his joining Time Warner Cable, Hobbs was Vice President, Financial Analysis and Operations Support for Time Warner Inc., with responsibilities including budgeting, financial forecasting and profit improvement for divisions including AOL, Warner Bros., Time Warner Cable, Warner Music, Time Inc., Home Box Office, Turner Broadcasting, New Line Cinema and the WB Network. He had also worked with Turner Broadcasting System, Inc., Banc One Illinois Corp. and KPMG Peat Marwick.

Hobbs had also been Senior Vice President, Controller and Chief Accounting Officer for Turner Broadcasting System, Inc., where he worked from 1993 until 2000. Before joining Turner Broadcasting, he was Senior Vice President and Audit Director for Banc One Illinois Corporation, and was Senior Manager with KPMG Peat Marwick from 1984 to 1990.

"Landel has played a significant role in the growth of the company over the past decade. In particular, his leadership in operations and marketing has helped Time Warner Cable grow and evolve in the face of increased competition and technological change," Britt said.

TWC is currently trading at $65.17, up $0.54 or 0.84%, on a volume of 1.98 million shares on the NYSE. In the past 52-week period, the stock trended in a range of $41.00 to $66.77, with a 3-month average volume of 2.72 million shares.

For comments and feedback contact: editorial@rttnews.com

Follow RTT