CNBC Chairman Mark Hoffman to step down in September

Mark Hoffman, CNBC's president since 2005 and chairman from 2015 He announced that he will quit on September. 12.

 MSNBC and CNBC in May 2020 in order to give more centralized direction to the company.

KC Sullivan will return to take over from Hoffman as CNBC's next president. Sullivan has been in the position for two years as

the president as well as managing director for the global partnership and advertising department of NBCUniversal

which is based in London. Prior to that, he served as the president and managing director for CNBC International as well as CNBC's Chief Financial Officer.

Sullivan will be returning in the U.S. for his new job. Hoffman will remain as a consultant during this transition process,

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.

Yellow Star
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