CNBC editor in chief David Cho sent out the following to the staff:
Team,
After more than 27 years at CNBC, Rick Santelli will be retiring on October 2.
Rick’s relationship with CNBC actually stretches back even further. He first began appearing as a guest on the network in 1994 before officially joining us in 1999, meaning he has been part of the CNBC family for more than three decades. Since then, he has become an institution on our air and one of the most recognizable voices in financial television. Reporting live from Chicago, he has been at the center of the action, bringing an unmistakable combination of expertise, conviction and deep market knowledge to our coverage.
Rick came to CNBC after a long career as a trader and financial executive, beginning at the Chicago Mercantile Exchange in 1979 and going on to hold senior roles across futures, options and institutional trading. That firsthand experience gave him a rare ability to understand what was driving the markets and explain why it mattered. For generations of CNBC viewers, Rick has brought clarity and perspective to even the most complicated market and economic developments, becoming a trusted guide through major events as they unfolded in real time.
Rick’s passion and personality have led to countless memorable exchanges, including his now-famous 2009 “Tea Party” commentary from the floor of the CME, which quickly became a national conversation. Whatever the subject, Rick has always approached it with the same energy, authenticity and willingness to challenge conventional thinking that have made him such a distinctive presence on CNBC.
That same commitment has defined the way Rick has approached the job itself. For decades, he has built his life around being there when the markets demanded it — making Fed days and the first Friday of every month essentially non-negotiable, even when it came to family vacations. That level of dedication, both to CNBC and to the audience we serve, has been extraordinary.
But Rick’s impact extends well beyond any single moment on air. He has been there through historic market moves, financial crises, Fed decisions and some of the most consequential economic stories of our time. His instincts and connection to the markets have helped define CNBC’s coverage and made him an invaluable colleague to teams across the newsroom.
And while Rick is retiring from his full-time role, this isn’t a goodbye. We’re glad to share that he plans to return to CNBC as a contributor, where his perspective and analysis will continue to be part of our coverage.
We look forward to celebrating Rick and his remarkable career in the coming weeks and will share more soon.
Please join me in thanking him for everything he has contributed to CNBC and wishing him all the best in retirement.
Dave
