Charter Communications Inc. CHTR, -0.28% said Wednesday that Chris Winfrey, the company’s current chief operating officer, will take over the role of chief executive beginning Dec. 1. He will replace longtime CEO Tom Rutledge, who is retiring from the top post but staying on the board of directors through the end of his contract in November 2023. Rutledge, who’s spent 50 years in the industry, will be the board’s executive chairman. Charter noted in a press release that Winfrey, who will be taking over the CEO post, is in charge of the company’s rural-construction initiative and he has spent almost 25 years working in the cable industry. Winfrey has “repeatedly demonstrated innate strategic insight and keen market and industry awareness to drive an organization to perform at the highest level,” Rutledge said in the release. Shares of Charter are up 0.4% in Wednesday morning trading. They’ve lost 17% in the past three months as the S&P 500 SPX, +0.57% has gained about 3%.
