Discovery's Streaming Chief Is Stepping Down Just as Streaming Wars Heat Up

Peter Faricy, CEO of the streaming unit for cable television brand Discovery (NASDAQ: DISCA) (NASDAQ: DISCB), will step down on July 15 after less than two years in the role. Faricy informed the company of the decision last week, and Discovery publicly disclosed it through a Securities and Exchange Commission filing shortly thereafter. The official notice read, "The Company has agreed to treat Mr. Faricy's departure as a Termination not for Cause by the Company under the terms of Mr. Faricy's Employment Agreement."

The wording of the move is as curious as its timing.

Image source: Getty Images.

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Source Fool.com