KC Sullivan will return to take over from Hoffman as CNBC's next president. Sullivan has been in the position for two years as
Conde wrote in a note to NBCUniversal employees. NBCUniversal is the main company behind NBC News.
"Mark has overseen the steady continued growth of CNBC as the world's #1 business and money news brand,"
Conde stated. "No business news organization comes close to the reach and influence of CNBC, a true testament to Mark's leadership."
CNBC is among the NBCUniversal's assets that has consistently been profitable and this is despite the fact that millions of
Americans have to cancel their linear cable TV subscriptions every year. Hoffman who is 65
has seen increased profits at CNBC during 16 of the 17 years he has run the business.
CNBC is expected to increase its profits again by 2022 According to a person who is familiar with the situation.