Time Warner Cable said its chief executive is leaving the post. The New York Times reports that the company broke the news that Glenn Britt, who has served as CEO since 2001, will retire at the end of the year.
The news brings to a head years of succession planning and months of talk about Britt’s potential departure, the report notes.
Britt, 64, will be succeeded by Robert Marcus, 48. The changeover "represents a generational change both for the company and the industry. Mr. Marcus has been in line for the top job since 2010, when he was named president and chief operating officer," the story notes.
When Britt joined the cable industry in the 1970s, there were doubts whether people would pay for TV access when it was already free over the airwaves, the story points out. In the 12 years since Britt took over Time Warner Cable, it has expanded into broadband and is trying to win over businesses after some consumers switched their homes to DirecTV or Verizon FiOS, the piece adds.
Marcus told The Times that his top goals will be residential subscriptions, corporate culture and customer service.
"We’ve got to develop a level of emotional connection with our customers,” instead of competing only on price, Marcus said.