CNBC Chairman Mark Hoffman to step down

CNBC’s long-time executive and Chairman Mark Hoffman is stepping down in September, the business news channel said on Tuesday.

Hoffman became CNBC’s president in 2005 and has overseen its global expansion, digital and TV growth. He took over as chairman in 2015.

CNBC is one of Comcast-owned (CMCSA.O) NBCUniversal’s (NBCU) most consistently growing assets, according to the company. NBCU hired Cesar Conde in 2020 to oversee NBC News, MSNBC and CNBC and to help lead a fast growing online presence.

KC Sullivan will replace Hoffman as its new president and begin on September 12, reporting to Conde.

Sullivan was CNBC’s finance chief before moving on to becoming president at NBCU’s global advertising partnerships, based in London.