Time Warner Cable chief financial officer Artie Minson is the first high-ranking executive at Time Warner Cable to leave since the cable provider struck a $78.7 billion merger pact with Charter Communications, becoming president of online office-space provider WeWork.
Minson, who joined TWC in 2013 from AOL, will become an adviser to the company until the Charter transaction closes, expected by the end of the year. TWC said long-time executives William Osbourn and Matthew Siegel will serve as acting co-CFOs for the company in Minson’s place.
Time Warner Cable agreed to be acquired by Charter last week in a deal valued at $78.7 billion. The transaction, which when coupled with Charter’s simultaneous $10.4 billion purchase of Bright House Networks, will create the second largest cable operator in the country with about 17.3 million basic video customers.
Privately-held WeWork provides more than 25,000 members across the globe with space, community, and services through physical and virtual offerings. Based in New York City, WeWork currently has 42 physical locations in fifteen cities and four countries around the world.
“I’m grateful that Artie delayed his decision to leave until he was confident that Time Warner Cable’s path forward was established, and in particular for his role in crafting our merger agreement with Charter,” Time Warner Cable chairman and CEO Rob Marcus said in a statement. “We appreciate Artie’s commitment and wish him all the best as he moves on to this next exciting phase of his stellar career.”
“Being the CFO of Time Warner Cable has been a dream job,” Minson said in a statement. “I am so fortunate to have been part of the team that over the last two years dramatically improved Time Warner Cable’s operating performance and created significant value for shareholders. I am leaving our financial function in great hands with Bill and Matt. As I embark on my next role at WeWork, I look forward to continuing to be part of the Time Warner Cable family as a strategic advisor until the closing of our merger with Charter.”
Osbourn has served as senior vice president–controller and chief accounting officer for Time Warner Cable since 2008. Siegel has served as senior vice president and treasurer of Time Warner Cable since 2008. Siegel was slated to become CFO of GreatLand Connections, the publicly traded cable company that was to be spun off from certain assets from the Comcast-Time Warner Cable merger. That spin-off never materialized as Comcast terminated its TWC merger in April after the cable giant determined that regulatory approval of the larger deal wouldn’t come.