NBCUniversal has announced a sweeping corporate reorganization that includes the departure of NBC News Chairman Andy Lack, signaling that the storied news operation is looking to make a fresh start.

Lack was planning to retire at the end of 2020, with NBC News President Noah Oppenheim stepping up as his successor, the Los Angeles Times reported. But instead, NBCUniversal Chief Executive Jeff Shell has chosen to put Cesar Conde, chairman of Telemundo and the company’s international business, in charge of a newly formed NBCUniversal News Group. Conde is viewed as a rising star in the media company, according to The Times.

The new division will put NBC News, MSNBC and financial news channel CNBC under the same roof. CNBC Chairman Mark Hoffman, who had reported to Mark Lazarus, chairman of NBCUniversal Television and Streaming, will now report to Conde. Oppenheim and MSNBC chief Phil Griffin will report to Conde as well.

The reorganization will also put all of the other television and streaming operations under Lazarus, who will continue to oversee the NBC Sports Group, owned television stations and affiliate relations.

Conde, 46, joined NBCUniversal in October 2013 as an executive vice president overseeing the company’s international and digital businesses, but he eventually segued into a role running Telemundo. Before coming to NBCUniversal, Conde was president of rival Univision.

“Cesar’s valuable and relevant experience leading broadcast networks and news divisions, combined with his high degree of integrity and proven management skills, make him the right person to lead our news group into the future,” Shell said in a statement.

Both Conde and Lazarus will report to Shell. Lack will leave his position later this month.

>> Want to read more stories like this? Get our Free Daily Newsletters Here!