Time Warner Cable Inc., the second-largest U.S. cable provider,said it hired former AOL Inc. Chief Operating Officer Arthur Minsonas chief financial officer, replacing Irene Esteves, who isdeparting.

The board replaced Esteves, 54, with Minson, 42, who will takeover as CFO on May 2. In a statement yesterday, Chief ExecutiveOfficer Glenn Britt said Esteves had played “a significant role inthe management of the company” since she joined in 2011.

Minson returns to Time Warner Cable, where he was deputy CFObefore leaving for AOL. He reported then to Rob Marcus, who is nowTime Warner Cable's COO and is the top candidate for the CEO jobwhen Britt retires at the end of the year, a person familiar withthe situation said in February.

Nathalie Burgos, a spokeswoman at Time Warner Cable, declined tocomment on the reason for Esteves's departure.

“It's definitely a surprise, but I don't think there are goingto be huge changes in how the company views its capitalallocation,” said Amy Yong, an analyst at Macquarie Securities inNew York. “Artie has worked with Rob before and is familiar withhis thinking.”

Time Warner Cable has fallen 3 percent this year,underperforming the Standard & Poor's 500 Index, which hasgained 12 percent. The New York-based company is changing itsoperating strategy to cut down on promotional giveaways, forcingcustomers to pay more for the services they want, Marcus said in aninterview last week.

Minson has served as AOL's CFO since 2009 after leaving TimeWarner Cable. He's also held senior finance positions at AMCNetworks Inc. and Time Warner Inc., according to the statement.

Time Warner Cable rose less than 1 percent to $94.23 at theclose in New York yesterday, before the change was announced.

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