CNBC Chief Mark Hoffman Stepping Down On September 12 - Reports

Mark Hoffman, president and chairman of business news outlet CNBC, will step down from his position at the organization on September 12 after having served in various roles there since 1997, CNBC reported on Tuesday

WASHINGTON (UrduPoint News / Sputnik - 16th August, 2022) Mark Hoffman, president and chairman of business news outlet CNBC, will step down from his position at the organization on September 12 after having served in various roles there since 1997, CNBC reported on Tuesday.

Hoffman announced that he will be leaving of his own accord on September 12 after having served as president of CNBC since 2005 and chairman since 2015, the report said.

Hoffman will continue work as an advisor while current NBCUniversal advertising director KC Sullivan transitions into the role of CNBC president, the report added.

NBCUniversal in May 2020 also hired Cesar Conde to bring centralized leadership to NBC News, MSNBC and CNBC, the report said.

"Mark has overseen the steady continued growth of CNBC as the world's #1 business and money news brand," Conde said in a statement to employees. "No business news organization comes close to the reach and influence of CNBC, a true testament to Mark's leadership."

Hoffman increased the profitability of CNBC in 16 of his 17 years at the organization's helm, making the outlet one of NBCUniversal's most consistently profitable assets despite a steady decline in US cable television subscriptions over recent years, according to the statement.

CNBC ranked top among all business news platforms for 29 straight years in reaching viewers who make more than $125,000 annually, the report said, citing Ipsos surveys.