Charter Communications, Inc. announced today that Neil Smit, President and Chief Executive Officer, has accepted a position with Comcast Corporation as President, Comcast Cable Communications. Mr. Smit’s resignation as Chief Executive Officer is effective February 28, 2010.
Michael J. Lovett, Charter’s Executive Vice President and Chief Operating Officer, will serve as Interim President and Chief Executive Officer. In the meantime, the company’s Board of Directors will conduct a national search for a new Chief Executive Officer, considering both internal and external candidates.
“The entire organization is grateful to Neil for his leadership and many contributions to Charter, particularly during the Company’s recently-completed financial restructuring,” stated Eric L. Zinterhofer, Charter’s Chairman of the Board. “We all wish Neil the very best in his new role at Comcast.”
“While we launch a search for a new Chief Executive Officer, the Company will continue to benefit from the strong team that Neil has developed, especially from the leadership of Mike Lovett. Mike brings considerable experience to his position and will ensure a seamless transition as we search for Neil’s replacement,” added Mr. Zinterhofer.
“I joined Charter in 2005 with the objective to build a stronger company and to develop a world class team dedicated to meeting and exceeding our customers’ needs for entertainment and communications services,” commented Mr. Smit. “With the completion of our financial restructuring – and knowing we have a very strong leadership team in place – this is an excellent time for me to move on to a new opportunity in this dynamic industry, and to watch Charter continue to excel.”
“I appreciate this opportunity to lead Charter into its next phase. We’ve enhanced our services and made significant improvements to the overall customer experience over the past year, and will continue to bring further developments to our customers,” said Mr. Lovett. “Charter has the people, platform and products to deliver our customers the entertainment and communications solutions of today and tomorrow.”