NBCUniversal content distribution chairman Matt Bond is set to retire after over 20 years with the media giant and its parent company Comcast.
“In the spirit of leaving on a high note, I have decided that it is the right time professionally and personally for me to retire,” Bond wrote in a memo to staff on Wednesday. “However, the company has asked me to serve in an advisory role for the next few years, and I have agreed to do so.”
His departure comes as Comcast plans to spin off its cable network portfolio into a separate, publicly traded company. The move, which will be tax-free to Comcast shareholders, is expected to take about a year to complete.