New York (CNN Business)Andy Lack, the chairman of NBC News and MSNBC for the past five years, is exiting as part of a reorganization at the news division’s parent company.

Cesar Conde, who heads up the Spanish-language network Telemundo and NBC’s businesses outside North America, will take over as chair of the news assets. In addition to the network news division and MSNBC, the business news channel CNBC will be folded into Conde’s portfolio, known as the NBCUniversal News Group.

NBC also announced a promotion for Mark Lazarus, the chairman of NBCUniversal television and streaming.

Both Lazarus and Conde report to Jeff Shell, who became CEO of NBCUniversal earlier this year. The changes take effect immediately.

NBC said in a press release that Lack “has decided to step down and will transition out of the company at the end of the month.”

Lack was previously expected to step aside after the 2020 election season. Noah Oppenheim, the president of NBC News, was in line to succeed him as chairman. But that plan may have evaporated when Shell took over for former CEO Steve Burke.

Monday’s announcement indicated that Oppenheim will continue as president of NBC News, reporting to Conde. No immediate replacement was announced at Telemundo.

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