Time Warner Cable said Friday that three top executives will be leaving the company, two of which are the result of an internal review that sought to streamline management by combining its president and chief operating officer positions.
Sources have told Multichannel News that the management review was conducted by consulting giant McKinsey & Co. However, Time Warner officials have said that McKinsey was not involved in the process.
Time Warner Cable told senior management Friday that vice chairman and COO John Billock and president Tom Baxter have agreed to take early retirement. Baxter will leave in March, while Billock will remain until a new president and COO is named.
In an unrelated move, executive vice president and chief marketing officer Chuck Ellis has resigned, also effective in March.
Time Warner chairman and CEO Glenn Britt will remain in that position.
The management purge comes after the October 2001 restructuring at Time Warner Cable that elevated Britt to chairman and CEO and created the positions for Billock and Baxter.
Billock had been a longtime executive with Home Box Office, last serving as president of HBO’s U.S. Network Group. At Time Warner Cable, Billock headed up marketing initiatives. He is expected to remain at the company through the transition.
Baxter, once president of Comcast Corp.’s cable operations, was in charge of Time Warner Cable’s systems, with the MSO’s five divisional executive VPs reporting to him.