Time Warner Cable Names Marcus Next CEO, to Replace Britt in 2014

Changeover at No. 2 cable operator to take effect next January

Time Warner Cable announced that chairman and CEO Glenn Britt will retire at the end of 2013, with Rob Marcus, currently president and COO, stepping in to take over the top job.

The CEO changeover will take effect Jan. 1, 2014, the company said. Britt, 64, will remain on the operator’s board in a non-executive role.

During Britt’s tenure, the cable biz has changed dramatically — expanding from just standalone cable TV to encompass broadband, voice and commercial services, while its video customer base has steadily declined. Time Warner Cable, the second-biggest U.S. MSO, has been the target of merger overtures by Charter Communications and Liberty Media chairman John Malone, who believes operators need to achieve greater scale.

Tensions between pay TV distributors and programmers also have increased in recent years, as content costs have soared. TW Cable is currently locked in a standoff over retransmission fees with CBS, whose stations may go dark next week if the companies can’t agree on a deal.

Marcus (pictured above), 48, also was elected to TW Cable’s board of directors effective immediately. He joined the cable company in 2005 and was named CFO in 2008, working with Britt and during the cable company’s 2009 spinoff from Time Warner Inc.

Previously, Marcus held various positions at Time Warner Inc., including senior VP of mergers and acquisitions, and prior to that was an attorney with Paul, Weiss, Rifkind, Wharton & Garrison, where Time Warner Inc. was his client.

Marcus “has the vision, financial prowess, operating acumen and unrelenting drive that make him the ideal CEO,” N.J. Nicholas Jr., lead director of Time Warner Cable’s board, said in a prepared statement. “The board is also very pleased that Glenn will remain chairman and CEO through 2013 as part of our thoughtful and seamless transition process.”

Britt, who began his career at Time Inc. in 1972 and served stints at HBO, was named TWC topper in 2001. He had been reported to plan to retire this year.

“I have had the privilege of being in this industry for more than 40 years and witnessing first-hand the most momentous evolution in communications technology ever experienced — we have truly been at the forefront of changing the way the world communicates,” Britt said in a statement.

More Biz

  • Grammy Awards 60th Annual Grammy Awards,

    Recording Academy Paid Millions Annually to Outside Law Firms

    Among the concerns listed in a memo sent to the Recording Academy’s head of HR by president/CEO Deborah Dugan before she was placed on administrative leave Thursday was an item about the organization’s “exorbitant and unnecessary” legal fees to outside law firms, according to sources familiar with the document. According to the most recent 990 [...]

  • Chuck D of Public EnemyGods of

    Public Enemy’s Chuck D Slams Grammys Over Deborah Dugan Ouster

    Chuck D, frontman of Public Enemy — who are receiving the Lifetime Achievement Awards at the Grammys next week — posted a long statement on Instagram criticizing the Recording Academy over its sudden ousting of new president/CEO Deborah Dugan yesterday. Dugan, who had been in the job only five months, was placed on administrative leave after [...]

  • Any Given Wednesday With Bill Simmons

    Spotify in Talks to Acquire Bill Simmons' The Ringer: Report

    Spotify is in early talks to acquire The Ringer, the digital content and podcast network launched by ESPN alum Bill Simmons in 2016, according to a report in the Wall Street Journal. A representative for Spotify declined to comment on the report. Reps for Ringer did not immediately respond to a request for comment. Spotify’s [...]

  • Deborah Dugan arrives for the 20th

    Deborah Dugan's Recording Academy Ouster Follows Multiple Tussles With Board

    “Change is afoot,” Deborah Dugan said more than once during interviews with Variety in the weeks before her shocking removal from her post as president/CEO of the Recording Academy after just five months on the job. During those conversations, Dugan spoke of changes she planned to make in the Academy’s staffing organization, its Board of [...]

  • Weinstein Trial

    Does Harvey Weinstein's Jury Selection Strategy Make Any Sense?

    Harvey Weinstein’s defense team appeared to have a strategy for jury selection: keep white women off the panel. They didn’t put it that way, because picking jurors based on race or gender is illegal. But on Thursday and again on Friday, prosecutor Joan Illuzzi accused the defense of using its peremptory challenges to systematically exclude [...]

  • Bob Iger

    Bob Iger's Disney Compensation Drops to $47.5 Million in 2019

    Disney chief Bob Iger saw his compensation for 2019 drop to $47.5 million, a 28% decline from his 2018 pay package. Disney’s leader earned $3 million in salary and a $21.8 million bonus, plus another $10 million in stock awards and $9.6 million in stock options, Disney disclosed in the company’s annual proxy filing with [...]

  • Peter Chernin'Spies in Disguise' film premiere,

    Disney and Chernin Entertainment Parting Ways (EXCLUSIVE)

    Disney and Peter Chernin are ending Chernin Entertainment’s long-standing film production deal with 20th Century Fox (recently rebranded to 20th Century Studios), Variety has learned. The split was a mutual and amicable one, driven by the simple fact that Disney rarely brings on third-party partners to finance its feature films. “I have nothing but praise for [...]

More From Our Brands

Access exclusive content