Employees at Time Warner Cable (TWC) received some unsettling news on Tuesday.
CEO Glenn Britt informed his staff that he has been diagnosed with cancer for the second time. Britt said that he learned of his condition after consulting physicians over voice problems. Five years ago, he successfully battled melanoma, the New York Post notes.
Britt said that despite the recurrence of his cancer, he would continue on as CEO until the end of the year, when he is scheduled to step down. He is to be succeeded by Rob Marcus, Time Warner Cable’s COO.
In a memo to employees, Britt noted that, “I am thankful that the transition to Rob was planned early, and was well underway before I got sick.” Marcus will become chairman as well as CEO.
Earlier this month, Time Warner Cable announced that it would pay $600 to acquire DukeNet Communications.
Shares of Time Warner Cable rose slightly in Wednesday morning trading.