US cable operator Charter Communications has announced that its president and CEO, Michael Lovett, will step down from his position in April 2012 at the latest.
In a statement, Charter said that Lovett’s move was a “personal decision”. He will…
US cable operator Charter Communications has announced that its president and CEO, Michael Lovett, will step down from his position in April 2012 at the latest.
In a statement, Charter said that Lovett’s move was a “personal decision”. He will step down on 30 April or earlier if a successor is appointed before then.
Charter said that its board will now begin the process of evaluating candidates.
Lovett joined Charter in 2003 and served as its executive VP and COO before he became president and CEO in 2010.
Charter is the fourth biggest cable operator in the US. Its Q2 2011 figures showed a net loss of US$107m, compared to a loss of US$217m for the same period last year.