CNBC president Mark Hoffman sent out the following announcement about the network’s international operations:
I am pleased to announce that we will merge CNBC in Asia Pacific and CNBC in EMEA to form CNBC International. Starting today, we will run the international business as a single entity.
We will achieve better overall coordination with a single P&L focused on one set of common goals and objectives. Different regions sometime require unique strategies and tactics. But, by putting the teams together, we will be more effective in making editorial and commercial decisions. Coordinated decision making, streamlined communication and shared goals can only make us stronger.
Satpal Brainch will lead this effort. Effective today, Satpal Brainch will be promoted to president, CNBC International, reporting to me. The last two and a half years, Sat has done an excellent job as President of CNBC in Asia Pacific, growing the business, overseeing the building of a state-of-the-art facility and the Singapore Exchange and establishing strong relationships in the region.
As CFO of CNBC for the two years prior to his position in Asia, Sat was an integral member of the leadership team and played an important part in CNBC’s record-breaking growth.
As a result of this reorganization, Mick Buckley will be leaving CNBC at the end of the year. I’d like to thank Mick for his quality contributions to CNBC in EMEA during the past eight years. Mick joined CNBC in EMEA as Commercial Director and quickly moved into his current role as President and Managing Director of CNBC in EMEA. He led CNBC in EMEA to profitability through dedication, team building and passion for growth.
Please join me in congratulating Sat on his new role and wishing Mick all the best in his future endeavors.
