Chris Licht is at CNN after leading the news network for a little over a year, the parent company Warner Bros Discovery announced Wednesday morning.

The company’s shares closed more than 8% higher on Wednesday.

While Warner Bros. Discovery is looking for a replacement for Licht, executives Amy Entelis, Virginia Moseley, Eric Sherling and David Leavy will lead CNN, the company said.

“We have great confidence in this group and will fully support it until a new CEO is appointed,” said the Warner Bros. CEO. In a memo to employees, Discovery’s David Zaslav added that the company will be looking internally and externally for the next CNN leader. . “We are in good hands, allowing us to take the time we need to conduct a thoughtful and thorough search for a new leader.”

Licht’s departure came as he faced a revolt among CNN talent and staff. His tenure that effectively began when he removed the expensive nets CNN+ streaming serviceit was riddled with programming missteps and the lowest ratings.

“I’ve known Chris for many years and have the utmost respect for him, both personally and professionally. This job will never be easy, especially in times of great disruption and transformation, and Chris has poured his heart and soul into it,” Zaslav said in a statement. “Unfortunately, things didn’t work out the way we hoped – and ultimately it’s on me. I’m responsible.”

Licht has drawn sharp criticism in recent weeks after the network hosted a town hall with Donald Trump which was full of dozens of fans of the former president. While the event drew 3.3 million viewers, CNN’s ratings plummeted afterward. Two days after the town hall, CNN’s prime-time ratings entered below right-wing outlet Newsmax, a much smaller network.

But it was an unflattering 15,000-word profile of Licht Atlantic — titled “Inside the Meltdown at CNN” — could have sealed his fate. He apologized to the staff On Monday morning, however, executives at CNN parent company Warner Bros. Discovery, including CEO David Zaslav, were not happy with the article and the fallout.

The move comes soon after Leavy, a key Zaslav ally, was named the network’s new chief operating officer. Leavy was tasked with taking over marketing, public relations, advertising sales, facilities and other logistics.

This move was to enable Licht focus more on programming. Licht helped launch MSNBC’s “Morning Joe” as its executive producer in 2007 and later became executive producer and showrunner of “The Late Show with Stephen Colbert” on CBS.

Licht did not immediately respond to CNBC’s request for comment.

Read Zaslav’s message to staff:

All,

This morning we are announcing that Chris Licht will be leaving CNN and we will be conducting an extensive search, both internally and externally, for a new leader. I wanted you to hear this message directly from me because it will affect you and your teams.

I have known Chris for many years and have the utmost respect for him, both personally and professionally. This work was never going to be easy, especially in a time of great disruption and transformation, and Chris poured his heart and soul into it. He has a deep love for journalism and this business, which was evident throughout his tenure. Unfortunately, things didn’t work out the way we hoped – and that’s ultimately down to me. I take responsibility. Needless to say, we appreciate Chris’ efforts and dedication and wish him all the best.

We have put in place a solid transition plan with the appointment of an acting leadership team of experienced programmers… Amy EntelisEVP, Talent & Content Development, Virginia MoseleyEVP, editorial and Eric SherlingEVP, US Programming, along with David Leavy, COO, on the commercial side. We have great confidence in this group and will fully support it until a new CEO is appointed. We are in good hands, allowing us to take the time necessary to conduct a thoughtful and thorough search for a new leader. I understand that changes like this can be stressful and I appreciate your continued patience as we go through this process.

You’ve heard me say it many times: CNN has the best journalists in the world…we are deeply committed to supporting them and the critical work CNN does every day. We have to get it right – and we will!

David

Disclosure: NBCUniversal is the parent company of MSNBC and CNBC.