Time Warner Cable said Tuesday that senior executive vice president and chief financial officer Robert Marcus has been named president and chief operating officer, replacing Landel Hobbs who will be leaving the company.
Marcus, a veteran Time Warner executive, will report to Glenn Britt, who remains chairman and CEO.
"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," Britt said in a statement.
Peter Haje, lead director of the Time Warner Cable board, noted: "Rob's visionary and creative leadership have significantly influenced Time Warner Cable's standing as a publicly traded company and as a leader in the communications industry. The company is performing well competitively, operationally and financially. I'm confident that under the leadership of Glenn and Rob, it will continue to excel."
In announcing the management changes, Britt thanked Hobbs for his service to and passion for the cable industry and the company, which he joined in 2001. "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. I speak for all Time Warner Cable employees in wishing him the absolute best in the next phase of his life and career."
Britt said that Marcus will continue to serve as CFO temporarily while the company conducts a search for his successor.