Charter Communications CEO Michael Lovett to Step Down

The cable operator says he will stay in his role until April 30 or whenever it finds a successor before that.

NEW YORK - Cable operator Charter Communications said Tuesday that president and CEO Michael Lovett has decided to step down for personal reasons.

Charter said he has agreed to stay on board until April 30, 2012, if needed, to allow the top five cable firm to name a successor. Lovett joined Charter in Aug. 2003. After serving as executive vp and COO, he was promoted to his current roles in April 2010.

"With Charter on strong footing, I believe this is the right time for me to move on to the next chapter of my career," Lovett said.

"Under Mike's leadership, Charter has established a solid foundation for customer growth through executing on its long-term strategic initiatives and assembling a high quality management team around a much improved financial position," said chairman Eric Zinterhofer. "We appreciate his many contributions to the success of the company and his willingness to assist in an orderly transition."

Email: Georg.Szalai@thr.com

Twitter: @georgszalai

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