Why is Mark Hoffman resigning from CNBC and what is his salary?
Mark Hoffman announced Tuesday that he will step down on Sept. 12 after serving as CNBC president since 2015 and president since 2005.
KC Sullivan will join the network on September 12 and assume the presidency. Sullivan, who will respond to Conde, most recently served as chairman and chief executive of NBCU Global Advertising and Partnerships, a London-based company.
He previously served as President and CEO of CNBC International, Chief Financial Officer of the News Organization and Chief Financial Officer of CNBC. Prior to joining NBC, he worked at General Electric for nine years.
In April 2015, Mark Hoffman, a seasoned broadcaster with more than 30 years of experience and multiple accolades, was chosen to lead CNBC. He also serves on the executive committee of NBCUniversal.
Marc Hoffman
CNBC: Mark Hoffman’s income and wealth
Becoming president and president of the network in 2005 and 2015, respectively, Mark Hoffman began working at CNBC in 1997.
In 2020, Conde was selected to lead a newly formed NBCU discussion group, CNBC falling under his purview. Hoffman was in charge of CNBC, while Andrew Lack ran NBC News and MSNBC before that.
The average income of CNBC executives, according to Comparably, is $211,436 a year. The average salary expected for CNBC executives, including base salary and bonuses, is $213,389, or $102 an hour. At CNBC, the highest-paid executive earns $518,000 a year, while the lowest-paid executive earns $50,000.
According to Ipsos polls, CNBC TV consistently ranks first of all business news platforms in reaching Americans who earn more than $125,000 a year.
We think Mark could win somewhere in the aforementioned area. However, its financial value is still under investigation.
CNBC continues to be one of NBCUniversal’s most profitable assets, despite the fact that millions of Americans drop their linear cable television subscriptions each year.
In 16 of his 17 years as CEO, Hoffman, 65, has increased CNBC’s profitability. According to someone with knowledge of the matter, CNBC will see an increase in revenue in 2022.
Resignation of Mark Hoffman: why?
Mark Hoffman goes free. Cesar Conde was hired by NBCUniversal in May 2020 to lead NBC News, MSNBC and CNBC to provide the company with more consolidated leadership.
Hoffman stayed at CNBC for 17 years, which is a long time. Hoffman will be replaced by Suzanne Scott, the CEO of Fox News, who has held the position since 2018, and Noah Oppenheim, the president of NBC News, who has been in charge of the division since 2017.
He tried to buy Dow Jones a 25% stake in CNBC World and 50% in CNBC Europe and CNBC Asia upon his return to CNBC in 2005.
Hoffman expanded CNBC’s television audience and focused on growing the company’s digital operations after taking financial control of its global properties.
Over the past six years, CNBC.com’s unique monthly users have grown from 30 million to approximately 200 million, a 6-fold increase.
Wife of Mark Hoffmann
Reports indicate that Mark Hoffman is married. He also has three sons in total.
Hoffman holds a master’s degree in journalism from the University of Missouri and a bachelor’s degree in sociology from the University of California, Berkeley. From August 2001 until his return to CNBC, Hoffman served as president and general manager of Hartford, Connecticut’s WVIT, an NBC owned and operated station.
In order to work for WVIT, he left CNBC, where he served as vice president, editor-in-chief of Business News, and interim president and CEO of CNBC Europe.
To maintain CNBC’s reputation as a trusted news source, especially for more affluent Americans, Hoffman extended the contracts of well-known television personalities like Jim Cramer, Becky Quick, Joe Kernen, David Faber , Carl Quintanilla and Andrew Ross Sorkin.
