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.

[{"selector":"#anim-0012f2f8-cd99-4255-8acf-9ba83a64c258","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-10ef3829-ce11-4991-a136-9412ef0d9707","keyframes":{"transform":["translate3d(115.55555%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0bb13190-9542-402d-8586-4f62a53ecad8","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-289035c6-5829-4039-892f-86be45a469ea","keyframes":{"transform":["translate3d(-107.56303%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d92f3f8-a8be-4f88-9c79-711625ef53b6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.38691799413018%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

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

[{"selector":"#anim-1a4b081a-cbf6-45b4-967a-7e3a311f57dc","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-085c2dc8-639a-43d3-85fe-9b3a23c8a812","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c31c5382-776e-492a-93cd-5185f3c08502","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5c1b2e58-a0fc-4cea-8777-6311f7650625","keyframes":{"transform":["translate3d(115.14195%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-938b552f-525f-447e-ba24-3916ea01aecf [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

[{"selector":"#anim-a3e2690f-096e-47c6-a659-4ebdf9310156","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d1305598-8631-4037-98d6-f8366d82aa98","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-600cdc97-890d-437c-8acc-6ea660fd5ed0","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-28c78726-5b26-44a3-ad18-e7b8681fc608","keyframes":{"transform":["translate3d(115.85760%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-992f6f45-67d0-421b-b550-e7cacc7aec82 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.699183746580007%, -19.99999902912622%) scale(1.4)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] 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

[{"selector":"#anim-ddcc1f6b-f368-4ebb-9ac9-f85de05eafe4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f86336b3-1f1a-49c6-adbb-e2331a8ca676","keyframes":{"transform":["translate3d(-107.84314%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0298a97f-1c2c-4fd4-b8f1-ec47363fe505","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-38c0d3bf-64b8-4ad8-886f-4c51d625db21","keyframes":{"transform":["translate3d(116.07717%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-032acab7-2191-4a5d-a3ce-4371c8204e83 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

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.

[{"selector":"#anim-606ce696-67c4-4960-970d-d602f41725c2","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8c13fae2-6d3e-4920-a1e4-c0b0a4a97170","keyframes":{"transform":["translate3d(-107.56303%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4d064b2c-82e2-4f3b-a945-a19da562b301","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-373ce7a5-61ec-42ba-9392-548255e6269b","keyframes":{"transform":["translate3d(114.41718%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-eceb747e-c7a7-47f6-98b4-6bdb623714c0 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.217334111019468%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

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

[{"selector":"#anim-4becbd16-dbec-4beb-94ce-7359d21a219f","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a11a4ea9-8814-427f-a63f-4172c58704d0","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7e3eb115-5d68-4ace-bce1-dae6d0eb7068","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-dd3831ee-310f-4cb9-9db4-80f5934f0b19","keyframes":{"transform":["translate3d(115.87301%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-002057aa-1cba-4f79-9884-cd1d291ede39 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-14.745011123969498%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}]

[{"selector":"#anim-a5a2112c-5ebf-42e9-ad31-1e073b150df7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-256862fe-3461-4d99-acde-122f2794a2e9","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9399844-681c-4e0b-9db8-561124c9cecf","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a2e9cc3f-2097-43af-80d1-0f0ea1a2ab8a","keyframes":{"transform":["translate3d(116.29393%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3ad866e-4810-4029-9206-f57216c78117 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Conde wrote in a note to NBCUniversal employees. NBCUniversal is the main company behind NBC News.

[{"selector":"#anim-1ada6c80-bcd1-4dd9-a275-b316e046ef63","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-a9800d7f-db3e-41e7-ab32-c3959cf37a4f","keyframes":{"transform":["translate3d(-107.84314%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f5aac580-8650-46cd-bdc7-9d598428864b","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-81f680e5-1448-4acc-9f3c-e6ba02433448","keyframes":{"transform":["translate3d(115.97445%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0d06979e-0a22-4f43-8b1d-bfa49a83dd60 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.8104106271380465%, -19.531249153465247%) scale(1.390625)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] "Mark has overseen the steady continued growth of CNBC as the world's #1 business and money news brand,"

[{"selector":"#anim-5ef5d2ef-5af9-4888-b31b-e13f6a37a817","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-18236462-87aa-4823-bf79-19a1a7101869","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-36864705-fc9e-438f-9488-84287cbef8b4","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3336864e-1417-4a20-a63e-51a21c357d26","keyframes":{"transform":["translate3d(115.45741%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-af7332d0-9d1b-4edf-af38-54d71212640f [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Conde stated. "No business news organization comes close to the reach and influence of CNBC, a true testament to Mark's leadership."

[{"selector":"#anim-ee80a727-2a75-42d4-b0f3-bb0f6d95e8f2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-12.772667479702186%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-47f74352-c3e4-4c9b-a23b-9adf6135c809","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-2b8a83a9-763b-40b9-bf89-ea5a11dd228a","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-c3412c36-78b4-4495-8292-c793c0095c2e","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-d15fab04-7551-4657-a064-9f75e43aa451","keyframes":{"transform":["translate3d(115.14195%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] CNBC is among the NBCUniversal's assets that has consistently been profitable and this is despite the fact that millions of

[{"selector":"#anim-02c0c8ce-4b15-4a7b-8172-64db2c22ff79 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-13.87195125478707%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-deafbeb5-496d-46ea-9b60-ac81ca4529aa","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1cc06d1e-2f6c-4a0f-bf4c-6e59b8a26d95","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5302df2a-8a94-46b0-b5b6-5ec671aafc76","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0152a06c-9bd6-43d0-a7de-8eca55833053","keyframes":{"transform":["translate3d(115.14195%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Americans have to cancel their linear cable TV subscriptions every year. Hoffman who is 65

[{"selector":"#anim-f3ed96b3-173b-402a-ab2e-6376bd6694e8 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-7b694286-b1be-4ce7-b402-7889d5eb9f7c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-181aea90-d8c5-48dd-9f73-931e9d5b471f","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1208daba-af19-4178-953a-e0100d686fc5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e429560b-1d87-4239-81d4-103786ada16a","keyframes":{"transform":["translate3d(115.14195%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] has seen increased profits at CNBC during 16 of the 17 years he has run the business.

[{"selector":"#anim-878bfd64-4357-4348-8e2f-4cd16501044d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-2.350181412837443%, -13.689159770589741%) scale(1.3571428571428572)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] [{"selector":"#anim-eaa7f1d5-3698-4100-b64a-f3769cc6a02c","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-22e40874-5d40-4370-b33b-083acdd75a2c","keyframes":{"transform":["translate3d(-108.12324%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-4c185478-5e95-441f-b37e-c9c9b22c8665","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-f49f0a1f-547f-4f26-a153-76206ed7291d","keyframes":{"transform":["translate3d(115.14195%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] CNBC is expected to increase its profits again by 2022 According to a person who is familiar with the situation.

Click below to read more such web stories

[{"selector":"#anim-63e3c619-a879-4113-bb80-da2d399ce40a","keyframes":[{"transform":"rotate(-540deg) scale(0.1)","opacity":0},{"transform":"none","opacity":1}],"delay":0,"duration":2500,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both","iterations":1}] [{"selector":"#anim-973a1267-c0fe-4e09-a793-52324ea442a8","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-172902ad-c828-408d-9524-0b04f469241e","keyframes":{"transform":["rotate(4deg) translate3d(-79.24529%, 0px, 0) rotate(-4deg)","rotate(4deg) translate3d(0px, 0px, 0) rotate(-4deg)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-79c58694-0e21-4f4e-b8b5-d3b31d9644d7","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-efac85c1-5f40-4023-a034-238f5c274099","keyframes":{"transform":["rotate(-5deg) translate3d(79.92958%, 0px, 0) rotate(5deg)","rotate(-5deg) translate3d(0px, 0px, 0) rotate(5deg)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Yellow Star Yellow Star Cheak it out