CNBC chairman Hoffman stepping down after 17 years running network

After 28 years with NBC, and leading CNBC since 2005, I’m writing to let you know I’ll be stepping aside on September 12th.

At Jeff’s request, I’ll continue at the company to help with the transition.

CNBC sits today at its absolute pinnacle, the number one business news source in the world, connecting with more than half a billion people, in multiple languages, across all media, linear, digital, and analog, every month.

What started with an investor focus is now a trusted source for all things money, and more, built on an enviable, and all-too-rare journalistic foundation in pursuit of the facts, the truth, the news.

We are in the business of business so it’s important to note we’ve never been more profitable, setting record after record in financial performance, year after year, as we maneuvered through economic cycles, exogenous events and the historic secular change that accompanied the information age.

2005 was a generation ago that feels like it passed in a minute. Way back then, before smart phones and ubiquitous broadband, we struggled to find our footing but were blessed with a spectacular group of dedicated colleagues and a bit of brand equity that lingered just beneath the surface.

We strategized and, working together, took the risks, and made the investments that allowed us to evolve, adapt and grow. Once defined as a moribund domestic cable channel that many thought would never fully recover from the dotcom bubble bursting, CNBC is today a global multimedia powerhouse, punching far above its weight, in the digital age. What a marvelous can-do family we’ve become, executing with precision, vision, and heart.

CNBC stands for something. It impacts the business world, investors, and individuals struggling to make sense of their money. You’ve made a difference.

How do you measure a business success beyond the financials and KPIs? I’d start by assessing the quality of the team, the enduring strength of the brand, and the prospects for growth. At CNBC, we’re three-for-three.

I’m humbled and grateful to have had this time with all of you and so proud of what we have done together. No matter where life takes me, professionally and personally, I’ll be rooting for CNBC!

My thanks to Comcast, GE, and all at NBC, present and past. It’s been a thrill ride.

With love and admiration to all of you, for all you do.


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