- Push-out Score determined
- After almost 11 years in the position
- Praise and thanks for Rutledge
- Chris Winfrey taking over
- Rutledge will remain as Executive Chairman at Charter Communications
- Rutledge spoke at length and said 162 words
(exechange) — Stamford, Connecticut, September 21, 2022 — Tom Rutledge, chief executive of Charter Communications, leaves his position. As announced by Charter Communications Inc. in a news release and in a regulatory filing published on Wednesday, September 21, 2022, Thomas M. (Tom) Rutledge leaves his post as chief executive officer at the telecommunications and mass media company, after almost 11 years in the role, effective December 1, 2022.
Tom Rutledge’s duties as CEO will be taken over by Christopher L. (Chris) Winfrey, currently Chief Operating Officer at Charter Communications Inc.
It is a generational change. Chris Winfrey is about 22 years younger than Tom Rutledge.
Tom Rutledge’s move coincides with a management shake-up also involving the position of President, Product and Technology.
No reason given
In the announcement, Charter Communications did not explicitly explain the reason for the move.
Rutledge will remain as Executive Chairman at Charter Communications
“Tom Rutledge, who announced his plans to retire as CEO after a storied 50-year career beginning as a technician in 1972 while in college, will serve as Executive Chairman of the Company and its Board of Directors through the end of his contract in November of 2023. Mr. Rutledge will maintain oversight of Charter’s Government Affairs during that time and provide his guidance and expertise to ensure a smooth and successful transition,” Charter Communications said.
“Transition”
Charter Communications said: “On September 21, 2022, Charter Communications, Inc. (the “Company”) announced the transition of Thomas M. Rutledge from his position as Chief Executive Officer of the Company to the position of Executive Chairman of the Company and its Board of Directors (the “Board”), and the appointment of Christopher L. Winfrey as President and Chief Executive Officer of the Company, in each case, effective December 1, 2022.”
Share price decline since September 2021
The announcement follows a decline in Charter Communications Inc.’s share price of 56% since September 2021.
In the position of CEO since 2012
Tom Rutledge became CEO of the Company in 2012.
Rutledge has been the Chairman of the board of directors of Charter since May 2016 and Chief Executive Officer of the Company since February 2012.
He previously also served as President of the Company from February 2012 to July 2016 and as a director since February 2012.
Prior to joining Charter, Rutledge served as Chief Operating Officer of Cablevision Systems Corporation (currently part of Altice USA, “Cablevision”) from April 2004 until December 2011.
A 43-year cable industry veteran, Rutledge began his career at American Television and Communications (“ATC”), a predecessor of Time Warner Cable Inc. (“Time Warner Cable”) where he served in many different capacities, eventually becoming President of Time Warner Cable.
Rutledge currently serves on the boards of the National Cable and Telecommunications Association (“NCTA”), CableLabs and C-SPAN and formerly served as Chairman of the NCTA.
In 2011, he received NCTA’s Vanguard Award for Distinguished Leadership, the cable industry’s highest honor.
He is a member of the Cable Hall of Fame and was inducted into the Broadcasting and Cable Hall of Fame in 2011.
He received a B.A. in economics from California University in California, Pennsylvania.
Push-out Score determined
The Push-out Score™ determined by exechange gauges the pressure surrounding Tom Rutledge’s move on a scale of 0 to 10.
exechange reached out to Charter Communications and offered the company the opportunity to comment on the score.
Read the full story in the exechange report 39.2022 ($).