3 Executives to Retire, Time Warner Cable Says
Time Warner Inc.’s cable unit said Chief Operating Officer John Billock and President Tom Baxter would retire early after an internal report recommended combining their jobs. A third executive also will retire.
Billock will leave after a new president and COO is named, a Time Warner Cable spokesman said. Baxter and Chief Marketing Officer Chuck Ellis plan to leave March 1.
Time Warner Cable, the second-biggest U.S. cable operator, conducted a management review as the company lost customers in the first nine months of 2004.
Shares of Time Warner rose 11 cents to $18.79 on the NYSE.
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