Report: Britt Plans To Leave TWC Posts This YearCompany Won't Confirm 'WSJ' Story, Says CEO 'Currently Under Contract' 2/01/2013 9:56 AM Eastern
Time Warner Cable chairman and CEO Glenn Britt is planning to step down from those posts at the end of the year, The Wall Street Journal reported Friday. The company would not immediately confirm or deny the report.
Britt, 63, has been with Time Warner Cable and related companies for some 40 years. It is expected that should he leave, current president and chief operating officer Rob Marcus would be a top candidate to replace him as CEO.
According to Securities and Exchange Commission filings, Britt’s employment contract with TWC expires in December 2013.
Time Warner Cable spokesman Justin Venech, after the online report appeared, said: "Glenn Britt is currently under contract with Time Warner Cable. If and when that changes we will announce it.”
Britt joined Time Inc. in 1972 in the controller department and steadily moved up the ranks. He became chief executive of Time Warner Cable in 2001, rose to president and CEO in 2006 and added chairman to his resume in 2009. Time Warner Cable and Time Inc. became separate companies in 2009.
Marcus was named COO in 2010. He was formerly the cable company’s chief financial officer and has held several top executive posts with Time Warner and Time Warner Cable.
Britt has been an outspoken executive in the industry, and in December said the second largest cable company in the country would jettison small networks that did not perform commensurate with their affiliate fee charges.