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TheStreet Open House

HBO CEO Bill Nelson Announces Retirement

Stocks in this article: TWX

Bill Nelson, CEO of Home Box Office, Inc., announced today he will step down as CEO of HBO at the end of the year. Under Nelson’s tenure, HBO has enjoyed record revenues and profits; experienced a resurgence in its original programming, most recently earning 81 Emmy nominations, including the most “outstanding series” nominations in the network’s history; launched its acclaimed and popular authenticated streaming service HBO GO; and expanded its international businesses, resulting in more than 100 million subscribers worldwide. Under the new management structure, Eric Kessler will serve as President and COO and Michael Lombardo will serve as President, Programming, and both will report to Richard Plepler, who will become CEO.

“Bill and I have worked together for many, many years and though I’m sad to see him leave, I respect his decision to enjoy retirement. He is a world-class CEO and leaves the company well-positioned for the future,” said Jeff Bewkes, Chairman and CEO of Time Warner Inc. “The company will not miss a step with the new team, which has the combination of talent and experience to drive HBO to new heights of creative excellence, innovation, and financial performance. Richard and Eric are twenty-plus year veterans of the company who, as Co-Presidents, helped HBO re-establish its pre-eminence over the past five years, and Mike Lombardo has done an exceptional job in developing the best slate in HBO’s history.”

“HBO has been my home for almost 30 years so this decision was an emotional one,” said Nelson. “With my elevation to CEO more than five years ago, we set an ambitious agenda for HBO, and I’m proud to say that I feel the company has never been in better shape financially or creatively. I feel very comfortable in taking this step now because I know HBO will continue in its tradition of innovation and acclaimed programming and retain its superior position in our industry in the hands of Richard, Eric, Mike and the entire team.”

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