Mark Hoffman out as CNBC chief, KC Sullivan replacing him

NEW YORK (AP) — Longtime CNBC chief Mark Hoffman is leaving the network after 28 years, His departure was announced Tuesday. Hoffman has been in charge of the financial news network for nearly two decade: He was named president in 2005 and chairman in 2015. He’ll be replaced early next month by KC Sullivan, currently a London-based executive for NBCUniversal who has spent more than a decade at NBC and CNBC in executive roles. Sullivan will be president of CNBC, starting Sept. 12. Hoffman’s boss, NBCUniversal News Group Chairman Cesar Conde, credited him for making the transition from a cable channel to a multiplatform global news brand.