Entertainment

CNBC President Mark Hoffman Leaving NBCUniversal – The Hollywood Reporter

Mark Hoffman, the television executive who has led business news channel CNBC since 2005, will leave the company in September, he told employees in a memo Tuesday morning.

KC Sullivan, who previously led CNBC’s international businesses and was most recently the company’s senior director of international sales, will succeed Hoffman as CNBC president. Sullivan will report to NBCU News Corporation President Cesar Conde.

Hoffman has served as the chairman of CNBC since 2015, after being named president in 2005.

“Over the past 17 years as President and then President, Mark has overseen CNBC’s continued steady growth as the world’s #1 business and currency news brand.” Conde wrote in her own memo to employees Tuesday. “No business news organization has come close to CNBC’s reach and influence, a true testament to Mark’s leadership.”

The TV news business is a volatile one that is undergoing significant change as the larger entertainment business gradually transitions to streaming. That volatility extends to senior executives, with every major company seeing a leadership change over the past few years. Conde takes over NBCUniversal’s news division in 2020, and invites Rashida Jones to lead MSNBC. Chris Licht took over at CNN just a few months ago, while CBS News and ABC News have seen new leadership appointed over the past two years.

Against that backdrop, Hoffman’s 17 years at CNBC are remarkable. When Hoffman leaves, the longest-running US television news heads will be NBC News president Noah Oppenheim, who has led the division since 2017, and Fox News CEO Suzanne Scott, who has led the division. Directed that company since 2018.

Read Hoffman’s full memo, below.

After 28 years with NBC, and leading CNBC since 2005, I am writing to let you know that I will be stepping aside on September 12th.

At Jeff’s request, I will remain at the company to help with the transition.

CNBC is today at its absolute peak, the number one source of business news in the world, connected to over half a billion people, in multiple languages, across all media, linear, digital and similarly, monthly.

What started with an investor focus is now a trusted source for all things money, and more, built on a foundation of journalism that is enviable and too rare to follow. chase the truth, the truth, the news.

We’re in the business so it’s important to note that we’ve never been more profitable, setting record after record for financial performance, year after year, when we maneuver through economic cycles, exogenous events and historical secular change that accompanies age information.

2005 was a generation ago, it felt like it had passed in a minute. Back then, before smartphones and broadband were ubiquitous, we struggled to find a place for ourselves but were fortunate to have an amazing group of dedicated colleagues and a bit of brand value. signal is just below the surface.

We have strategized and worked together, taking risks and making investments that allow us to grow, adapt and thrive. Once defined as a massive domestic cable channel that many assumed would never fully recover from the burst of the dotcom bubble, CNBC is today a global multimedia powerhouse, far beyond its weight, in the digital age. What a family that is able to do the miracle we have become, done with precision, vision and heart.

CNBC stands for something. It affects business people, investors and individuals who are struggling to make sense of their money. You made the difference.

How do you measure the success of a business beyond finance and KPIs? I’ll start by assessing the quality of the team, the long-term strength of the brand, and growth prospects. At CNBC, we are three against three.

I’m humbled and grateful to have had this time with all of you and so proud of what we’ve done together. No matter where life takes me, professionally and personally, I will always be dedicated to CNBC!

My thanks go to Comcast, GE, and all of NBC, past and present. It was a thrill ride.

With love and admiration for all of you, for all that you do.

Tick

Read Conde’s letter, below.

Hey guys,

Following an unusual run, Mark Hoffman will step down as Chairman of CNBC. I am pleased to announce that KC Sullivan will return to the network to become President starting September 12.

Over the past 17 years as President and then President, Mark has overseen CNBC’s continued steady growth as the world’s #1 business and currency news brand. No business news organization comes close to the reach and influence of CNBC, a true testament to Mark’s leadership. Year after year, CNBC has consistently reached the wealthiest and most educated audience on television, and through its platforms in the United States and abroad, is now viewed by more than 540 million consumers each year. month. Mark has also led CNBC into many new lucrative areas, including events, digital publications, and direct-to-consumer products.

Many of you already know KC, a 13-year NBCUniversal veteran who has spent the past two years as President and CEO of London-based NBCU Global Advertising and Partnerships. In that role, he created the Global Partners team, which tripled its revenue in two years, and built a collaborative, inclusive culture. He has built strong partnerships with Sky Media in the UK, Italy and Germany and established new partnerships with the RTL Ad Alliance.

Prior to that, KC had more than a decade of leadership roles at CNBC and NBCU News Group, including President and CEO of CNBC International, Chief Financial Officer of News Group and Chief Financial Officer of CNBC CNBC. While at CNBC International, he opened offices in Abu Dhabi, Dubai and China, launched partnerships in Indonesia and Thailand, and created “East Tech West”, a leading technology event. for many years in Guangdong area, China.

In her new role, KC will be returning to the US soon and will be reporting to me. Mark has agreed to continue serving as a consultant to ensure a smooth leadership transition.

Join me in congratulating KC on his new role and toasting Mark on his remarkable achievement during his 28 years at NBC.

Take care,

Cesar

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