CNBC News Leader Jeremy Pink Is Out

Will be replaced by one-time Journal editor Nikhil Deogun

In an internal memo to staff, CNBC CEO Mark Hoffman announced that Senior Vice President Jeremy Pink is stepping down. Pink will be replaced by CNBC Managing Editor for business day programming Nikhil Deogun, who will now have the title Senior Vice President and Editor in Chief, Business News.

According to sources at CNBC, Pink’s move was voluntary, and though his departure was announced to staff for the first time today, he had previously discussed his plans to leave with Hoffman in the last several weeks.

“Jeremy told me a number of weeks ago that he’d reached a point where he wanted to think more expansively about his career and determine where his talents and interests could have the most impact,” Hoffman said in his email to CNBC staff. “As he contemplates what will no doubt be a wide range of new opportunities, Jeremy has agreed to consult with several companies, including a New York area hedge fund manager and a major Asian media company.”

Before taking the SVP post in 2009, Pink had served as President and Managing Director of CNBC's Asia-Pacific operation. During his time there, Pink oversaw the relaunch of the Asia Pacific morning programming which included five new shows: Squawk Australia, CNBC’s Cash Flow, Trading Matters, Australia This Week and Capital Connection, broadcast simultaneously from Europe and Asia, accordint to an NBCU biography.

Pink’s replacement, Deogun, joined CNBC in early 2010 from The Wall Street Journal, where he’d served as international editor and a deputy managing editor. A replacement for Deogun’s position has not yet been named.

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