In the wake of his Las Vegas arrest this past weekend, HBO has decided to cut ties with its Chairman and CEO, Chris Albrecht.
In a statement obtained by TMZ, parent company Time Warner Chairman and CEO Richard D. Parsons said:
"Jeff Bewkes (President and COO of Time Warner) and I believe that this is the right decision for the company. We thank Chris Albrecht for all of his contributions to Home Box Office over the years."
Albrecht, who had been with HBO for 22 years, look a leave of absence as of yesterday, saying he "agreed to step down ... recognizing that I cannot allow my personal circumstances to distract them from the business."
HBO Chief Operating Officer Bill Nelson will temporarily take over Chris Albrecht's duties until a new CEO is appointed.
Wonder what Rich Eisen had to say about that on SportsCenter.
Yesterday, Albrecht sent a letter to the HBO staff, which stated that he was "deeply sorry" for the Vegas incident, and revealed that he is a recovering alcoholic who had slipped.