US broadband communications company Charter Communications, along with its subsidiaries, has announced that John C. Malone has retired from the Charter Board of Directors, but will continue to serve the company as a director emeritus. As a director emeritus, Malone will attend Board meetings and provide active support and advice to the Company, but will not have a vote on matters presented to the Board.
“The Board and I appreciate John’s service to Charter and will continue to benefit from his counsel as a director emeritus,” said Thomas M. Rutledge, Charter’s Chairman and Chief Executive Officer.
“I am retiring from the board of Charter to reduce my travel and focus on fewer board positions,” explained Malone. “I remain heavily invested in Charter, both financially and emotionally, and am excited about its prospects. As the Liberty Broadband nominee to the Charter board, Jim Meyer brings a strong track record and wealth of relevant experience, and I will remain an active advisor in my director emeritus role.”
Malone served on the Board as a designee of Liberty Broadband Corporation pursuant to a stockholders agreement with Charter. In conjunction with Malone’s retirement from the Board, Liberty Broadband nominated James E. Meyer, the Chief Executive Officer of Sirius XM, to replace Malone on the Company’s board and to serve along with Liberty Broadband’s other two designees, Gregory B. Maffei and Balan Nair. On July 24th, 2018, the Board elected Meyer and also appointed Mr. Meyer to serve on the Nominating and Corporate Governance Committee.
“Jim Meyer’s broad experience, including at Sirius XM, will benefit the Charter Board of Directors and I look forward to serving with him,” said Rutledge. “With the addition of Jim and the continued participation of John, I am confident that the Charter Board of Directors will continue to provide the leadership and oversight to ensure that Charter’s future remains bright.”