Mark Hoffman, the TV executive who has led the business news channel CNBC since 2005, will step down from the company in September, he told employees in a memo Tuesday morning.
Kc Sullivan, who previously led CNBC’s international businesses and most recently served as a senior international d sales executive for the company, will succeed Hoffman as CNBC’s president. Sullivan will report to NBCU News group chairman Cesar Conde.
Hoffman has served as chairman of CNBC since 2015, after being named its president in 2005.
“Over the last 17 years as President and then Chairman, Mark has overseen the steady continued growth of CNBC as the world’s #1 business and money news brand,” Conde wrote in his own memo to staff Tuesday. “No business news organization comes close to the reach and influence of CNBC, a true testament to Mark’s leadership.”
The TV news business is a volatile one,