Time Warner Cable replaced chairman Don Logan, who will remain on the board with Chief Executive Glenn Britt. This move was made because Time Warner Cable is separating from Time Warner later in the current quarter we are in. The company plans to focus more on movies, TV programming and magazines with hopes to make the company more competitive. This is a huge move because Time Warner Cable owns an 85% stake in the main company. With this split, Jeff Bewkes (CEO of Time Warner) will be leaving the board of the cable division. In a statement made by Britt, he said “The board has benefited greatly from Jeff's contributions and from Don's leadership during his tenure as chairman. I thank them both for their service and look forward to working with Don as he continues to serve as a Director.”
With this being a major split from the company, the move is to save Time Warner which actually fell ten cents two days ago. The move is so each division becomes more efficient and is able to focus on separate goals from one another while still benefitting from each other. I believe it was a good move but we shall see the results of the split by the time the final quarter rolls around.
Farrell, Mike. "Time Warner Cable Names Britt Chairman." Feb 18, 2009.
http://www.multichannel.com/article/174457-Time_Warner_Cable_Names_Britt_Chairman.php
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