Bill Griffeth, one of TV’s most durable business-news journalists, will step back from his duties at CNBC, where he has worked for 28 years.
During a segment Friday at the NBCUniversal-owned cable-news outlet, Griffeth announced he will relinquish daily anchoring duties and instead serve as an anchor at large. He had spent many years as an anchor on such CNBC perennials as “Power Lunch” and “Closing Bell,” and had recently been co-anchoring CNBC’s production of “Nightly Business Report” for PBS.
A recent decision by CNBC to halt production on that show prompted Griffeth to take stock, he said Friday in a memo to CNBC staffers. “My current deal is up this month, and after more soul searching I had resolved to stay two more years because of “Nightly Business Report,” which has been a privilege to be a part of. And then that would be it. Promise. But the decision to cease production of NBR has made my decision for me,” he said, adding that he would appear when editorial decisions dictate. “Sincere thanks to [CNBC President] Mark Hoffman for yet another creative solution that allows me to remain tethered to an organization that has meant so much to me for so long. So no need for farewells or celebrations. You’re all still going to have to put up with me.”
Griffeth and another CNBC anchor, Sue Herera, are among the last people at the network to have worked for Financial News Network, an independent business-news cable network that was founded in 1981 and purchased by NBC a decade later.
Griffeth was on the production team that helped launch that network and gained notice for his coverage of the 1987 “Black Monday” stock market crash.
“I’m excited about the possibilities and I’m scared about the unknown,” Griffeth said in the memo. “It’s good to feel all of that again.”