With Time Warner Cable chief financial officer John Martin stepping into Wayne Pace's similar role with parent Time Warner Inc., the cable operator has named Robert Marcus as its lead financial officer.
Succeeding Pace, who is retiring, as corporate CFO, Martin will start his new job on Jan. 1, the same day that current Time Warner Inc. chief operating officer Jeff Bewkes becomes CEO, replacing the retiring Richard Parsons.Taking Martin’s place at Time Warner Cable will be senior executive vice president Robert Marcus.
Martin has spent nearly 12 years with Time Warner in various functions, including senior vice president of investor relations from 1999 to 2000. From 2000 to 2002 Martin was director in the equity research group of ABN AMRO Securities. He rejoined Time Warner in 2002 as head of its investor relations unit and in August 2005 was named CFO of Time Warner Cable.
Marcus also is a long-time Time Warner executive, serving in various positions since 1998, primarily in the mergers and acquisitions arena. Marcus was the architect and lead negotiator for several transactions, including Time Warner’s joint purchase of Adelphia Communications with Comcast last year. He joined Time Warner Cable in 2005.
In his new role Marcus will retain the role of senior executive vice president and will continue to direct Time Warner Cable’s mergers and acquisitions, programming, human resources and business affairs departments. As CFO he will add responsibility for all of the company’s financial functions, including accounting, financial planning and analysis, tax, treasury and investor relations.
“Rob is a seasoned executive and proven leader with a broad and deep understanding of our business,” Time Warner Cable president and CEO Glenn Britt said in a statement. “Widely recognized as a talented dealmaker, Rob’s contributions to Time Warner Cable have been more far reaching. He has participated in all of our significant business decisions over the last two-plus years and is well respected both within our industry and on Wall Street for his judgment and financial acumen.”
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