Charter Rises After Naming Rutledge New Chief Executive
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Charter Communications Inc. gained more than 5 percent in New York trading after naming Thomas Rutledge chief executive officer to help lead the company back to profitability.
Rutledge, 58, will take the helm at the fourth-largest U.S. cable provider Feb. 13, succeeding Michael Lovett, who said in October he would step down. He will also become a member of the St. Louis-based company’s board, according to a statement. Rutledge announced his resignation as chief operating officer of Cablevision Systems Corp., the fifth-largest U.S. cable operator, on Dec. 16.