Marketwatch.com’s Jon Friedman wonders if a spate of recent CNBC departures is creating “a brain drain” at the #1 business network. Friedman points out that while several have left, the network has held on to the likes of Maria Bartiromo, Jim Cramer and Joe Kernen, among others.
Notably, CNBC announced in late 2009 the hiring of Wall Street Journal news executive Nik Deogun to be its managing editor. Before Deogun arrived, CNBC on-air journalists seemed to preen first and try to break news second. Deogun has helped dial down the noise.
And while CNBC exists as brand first, self second, Friedman says too much outflow can cause a drought:
Broadcast journalism is littered with the stories of networks that believed their press clippings. They lost top-flight employees and eventually deteriorated. CNBC shouldn’t get too cocky.