Time Warner Cable Inc. Chief Executive Officer Glenn Britt, who said in July that he will retire at year-end, told employees today that he has cancer.
After a bout with melanoma five years ago, doctors determined that Britt’s cancer has returned, he said in a memo obtained by Bloomberg. Britt began having voice problems over the summer and was undergoing tests to find the cause.
“I feel good and am optimistic about my prognosis,” said Britt, 64. “I have no intention of letting this cancer slow me down, and will continue to work until my retirement at the end of the year.”
The succession plan, which will pass the CEO and chairman roles to Chief Operating Officer Rob Marcus on Jan. 1, was already in place before Britt got sick, he said. The transition has been “seamless” and is almost complete, Britt said.
Shares of New York-based Time Warner Cable, the second- largest U.S. cable provider, were little changed in New York trading at $118.81. The stock has climbed 22 percent this year.
To contact the reporter on this story: Edmund Lee in New York at elee310@bloomberg.net
To contact the editor responsible for this story: Nick Turner at nturner7@bloomberg.net
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