Shares in Cablevision, one of the largest cable television operators in the US, were down by as much as 15 per cent yesterday after the surprise resignation of Tom Rutledge, the chief operating officer widely considered to be the company’s most important executive.

“No company in our telecom, cable and satellite coverage universe as exposed to key-man risk as Cablevision,” said Craig Moffett, Bernstein Research analyst. “ is in our view the hands-down best executive in the industry.” – (Copyright The Financial Times Limited 2011)