(New York, N.Y.) – Time Warner Cable (NYSE: TWC) today announced that Robert D. Marcus has been named President and Chief Operating Officer, effective immediately. He will continue to report to Glenn A. Britt, Chairman and Chief Executive Officer. The company also announced that Landel C. Hobbs, Chief Operating Officer, will be leaving the company.
“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,” Mr. Britt said.
Peter R. Haje, Lead Director of the Time Warner Cable Board, said, “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.”
Mr. Marcus joined Time Warner Cable in 2005 as Senior Executive Vice President, responsible for corporate groups including mergers and acquisitions, business affairs, programming, and human resources. In January 2008, he assumed accountability for the company’s finance functions, adding Chief Financial Officer to his title. He had previously held various leadership positions, including Senior Vice President of Mergers and Acquisitions, at Time Warner Inc., which he joined in 1998. From 1990 to 1997, Mr. Marcus practiced law at Paul, Weiss, Rifkind, Wharton & Garrison. He received a J.D. from Columbia Law School and a B.A. from Brown University.
In announcing the management changes, Mr. Britt thanked Mr. 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.”
Mr. Britt said that Mr. Marcus will continue to serve as CFO temporarily while the company conducts a search for his successor.
About Time Warner Cable
Time Warner Cable is the second-largest cable operator in the U.S., with technologically advanced, well-clustered systems located in five geographic areas—New York State (including New York City), the Carolinas, Ohio, Southern California (including Los Angeles) and Texas. Time Warner Cable serves more than 14.7 million customers who subscribe to one or more of its video, high-speed data and voice services. Time Warner Cable Business Class offers a suite of phone, Internet, Ethernet and cable television services to businesses of all sizes. Time Warner Cable Media Sales, the advertising arm of Time Warner Cable, offers national, regional and local companies innovative advertising solutions that are targeted and affordable. More information about the services of Time Warner Cable is available at www.timewarnercable.com, www.twcbc.com and www.twcmediasales.com.