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Time Warner Cable Announces CEO Glenn Britt Retiring in December

Phillip Dampier July 25, 2013 Consumer News 1 Comment
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In a widely anticipated move, Time Warner Cable CEO Glenn Britt will retire from his leadership role in December, replaced by his chief operating officer Robert Marcus.

Marcus will assume control of the nation’s second largest cable company with a promise to improve customer service, corporate culture, and growth in residential subscriptions.

Marcus told the New York Times the company has to develop a level of emotional connection with customers, many who loathe the cable company and complain regularly about the increasing cost of cable service.

Time Warner Cable has lost cable television customers and growth in other services has continued to slow as consumers explore competitive offers from the phone company and satellite providers. The company has made up the loss of revenue by raising prices and aggressively expanding business service by wiring offices and complexes for cable broadband.

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Wall Street has complained Time Warner’s financial performance has fallen behind other cable operators, notably Comcast. Some also mention Time Warner’s broadband speeds are slower than other cable operators. Some analysts also continue to pressure the company to drop flat rate Internet access to accelerate earnings.

The cable company’s current market position has made them a target for a takeover, notably by John Malone and Charter Communications. The two companies have met informally to discuss a potential merger deal, but Britt doubted Charter — far smaller than Time Warner Cable itself — could run the combined entity effectively.

Marcus told the newspaper Time Warner Cable’s attitude towards a merger would depend entirely on how much value it would create for the company’s shareholders.

What was best for customers was not mentioned as a factor.

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David
David
10 years ago

Raising prices to makeup for subscribers leaving is no way to run a sucessful business… if anything that will cause more people to leave. [Like me!… I canceled after they raised the cable bill one last time and had enough. Went to Walmart, bought an attic antenna installed it, and some coax.. and split it in the basement for all the tvs.. it works great. Total cost before tax about $45 or so and about an hour and a half.] Monthly savings: $72… Yearly: $864.

What TWC needs to do is figure out how to lower its programming costs…

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