HBO CEO On His Way Out As AT&T Restructures The Organization
After AT&T’s acquisition of HBO, the new parent company and telecommunication giant is eagerly restructuring the company. AT&T’s restructuring involves the removal of CEO of HBO, Richard Plepler as a memo stating so was obtained by CNBC. Plepler has spent nearly decades at HBO, and lead to becoming the pioneer and leader in the on-demand video vertical. In early 2019, AT&T bought Time Warner and since there was news of emerging cultural dispute between AT&T and its purchased media assets. After the merger of these two, the name of newly made Warner Media’s head John Stankey was in news. Press potholed him, for angling heavy volume of HBO content outside from it.
In the memo, Plepler wrote that it is very hard for him to think about leaving HBO as it is the company he loves along with the people working in it. Adding to the same memo, Plepler wrote that from last few weeks he has been thinking about all the time he spent there. He remembered the tenure of about 28 years. He was blessed to be at HBO. Stankey while giving a statement to CNBC said that Plepler is among the best and popular executives from the industry, he said that he is fortunate that Plepler supported him in last months. It was Richard Plepler’s energy, enthusiasm, and vision which bought HBO at his present stature. Stanley also added that Plepler’s impact will be last for a long time on business and on HBO viewers.
Richard will leave the company in parts as he has seen minimum autonomy within the latest structure, said a person involved in the transition. Plepler is looking for the right and accurate time of transition but is abraded at the prospect of a big company, added the transition familiar person. As HBO is facing heavy competition in the streaming domain from competitors like Netflix, Hulu along with giants of media Disney and NBCUniversal (owned by Comcast), it is ideal time for Plepler to exit HBO.