3 Executives to Retire, Time Warner Cable Says
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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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