Mark Hoffman To Step Down As CNBC Chairman, KC Sullivan To Return To Network As President

mark hoffman announced on Tuesday that he was stepping down as longtime chief CNBC in September.

Casey Sullivan will return to the network from September 12 to become president of NBC Universal News Group. Cesar Conde written in a memorandum.

“Over the past 17 years as President and then-Chairman, Mark has oversaw CNBC’s continued growth as the world’s #1 business and money news brand. No business news organization has come close to the reach and influence of CNBC Comes, which is a true testament to Mark’s leadership,” wrote Conde. “Year after year, CNBC has consistently reached the most affluent and educated audiences in television, and through its platforms in the United States and abroad, now Viewed by over 540 million consumers every month.”

Hoffman first joined CNBC in 1997, then became president of Business Network in 2005, and president in 2015.

In 2020, Conde was tapped to lead a newly formed NBCU newsgroup, with CNBC coming under her purview. Previously, Andrew Lack supervised NBC News and MSNBC, and Hoffman oversaw CNBC.

Sullivan was most recently Chairman and Managing Director of NBCU Global Advertising and Partnerships based in London. He was previously the chairman and managing director of CNBC International, the newsgroup’s chief financial officer, and CNBC’s CFO.

Conde said Hoffman has agreed to serve as a consultant “to ensure a smooth leadership transition.”

more to come.

Conde’s full memo is below:

good afternoon everybody,

After an extraordinary run, Mark Hoffman will step down as chairman of CNBC. I am pleased to report that Casey Sullivan will return to the network to become President on September 12th.

Over the past 17 years as President and then-Chairman, Mark has oversaw CNBC’s continued growth as the world’s #1 business and money news brand. No business news organization comes close to the reach and influence of CNBC, a true testament to Mark’s leadership. Year after year, CNBC has consistently reached the most affluent and educated audiences in television, and through its platforms in the United States and abroad, is now viewed by more than 540 million subscribers each month. Mark has also led CNBC into several new areas of profitability, including events, digital publishing and direct-to-consumer products.

Many of you already know Casey, a 13-year veteran of NBCUUniversal who has spent the past two years as Chairman and Managing Director of NBCU Global Advertising & Partnerships based in London. In that role, he created the Global Partnerships team, which tripled revenue in two years while building a collaborative, inclusive culture. He forged a strong partnership with Sky Media in the United Kingdom, Italy and Germany, and a new partnership with the RTL Ad Alliance.

Prior to this, Casey spent more than a decade in leadership roles at CNBC and NBCU News Group, including as Chairman and Managing Director of CNBC International, Chief Financial Officer of NewsGroup, and CFO of CNBC. While at CNBC International, he opened bureaus in Abu Dhabi, Dubai and China, launched partnerships in Indonesia and Thailand, and created “East Tech West”, a multi-year, industry-leading technology program in the Guangdong region of China.

In his new role, Casey will return to the United States shortly and report to me. Mark has agreed to remain on as a consultant to ensure a smooth leadership transition.

Please join me in congratulating Casey on his new role and raising a toast to Mark for his remarkable achievement record during his 28 years at NBC.