It's official: Mark Thompson, the former chief executive of The New York Times and director-general of the BBC, will be the next leader of CNN, taking the reins of the renowned global news organization at one of the most pivotal times in its 43-year history.

Thompson, who will officially begin on Oct. 9 as chief executive and chairman, in addition to acting as the outlet's editor-in-chief, said in a statement that he "couldn't be more excited about the chance to join CNN after years of watching it and competing against it with a mixture of admiration and envy."

"The world needs accurate trustworthy news now more than ever and we've never had more ways of meeting that need at home and abroad," Thompson said. "Where others see disruption, I see opportunity. I can't wait to roll up my sleeves and get down to work with my new colleagues to build a successful future for CNN."

The selection of Thompson marks the beginning of a new and transformative chapter for CNN. Here are some observations and questions on the high stakes move.

► It's a risk for Thompson. Like Bob Iger, Thompson is coming out of retirement to take on a Herculean task, managing a complex, mammoth media company at a time of mass disruption across the entire industry. Thompson could have enjoyed retirement, coasting off the sterling reputation he earned after breathing life into The Times and revitalizing the outlet from a print-based publication to a digital powerhouse. He will instead put much of his legacy at risk by betting that he can replicate his success at CNN, this time aiming to transform a linear television-based company into a profitable streaming and digital giant. In his first memo to employees, Thompson acknowledged a state of "peak disruption" in media, writing, "We face pressure from every direction -- structural, political, cultural, you name it. ... There's no magic wand that I or anyone else can wield to make this disruption go away. But what I can say is that where others see threat, I see opportunity -- especially given CNN's great brand and the strength of its journalism."

► It's also a risk for David Zaslav. The Warner Bros. Discovery chief executive could have waited to appoint a singular leader of CNN after firing his former hand-picked network boss Chris Licht. No one would have blamed him for keeping the four-person interim leadership team — made up of Amy Entelis, Virginia Moseley, Eric Sherling, and David Leavy — steering the ship. Organizational morale was up under the leadership of "The Quad" and staffers widely expected them to stay in power until the conclusion of the 2024 election (Wednesday's announcement said, however, that they will remain in their current roles). In effect, Zaslav had a win by just keeping the current leadership team in place. By appointing a new chief executive and chairman, he's taking an inherent risk as the 2024 presidential cycle heats up.

► What is CNN's editorial mission and philosophy? Under former network boss Jeff Zucker, staffers never questioned what CNN's mission statement was. It was focused on holding the powerful accountable and calling out B.S. from whomever was peddling it — all while doing so in plain language. That made the network a target of Donald Trump, but it also gave the organization a sense of incredible purpose. Licht, on the other hand, struggled to articulate his own editorial mission. It was never quite clear precisely what his vision was. He directed staff to "widen the aperture" on stories the network was covering and insisted it should take Trump's ramblings live on air, among other things. But the overarching mission was muddled. It will be illuminating to hear more from Thompson on this matter, given he will also be responsible for CNN's editorial.

► Licht opened the door to MSNBC. On the television front, CNN's bread and butter once was the big politics-focused breaking news events. But under Licht, largely as a result of his editorial preferences, CNN slid behind MSNBC, including in the advertiser-coveted 25-54 demographic. The network has, under "The Quad," made some notable progress on the ratings front, doing its best to claw its way back. But heading into 2024, which will be saturated with news cycles focused on the election and Trump's criminal indictments, whether Thompson can totally reverse CNN's ratings fortunes will be worth watching.

► CNN has other challenges. Outside the existential threat the network faces as the cable bundle prepares to settle into its place in the history books, the network is in desperate need of stability. Thompson will be met with the demanding task of leading a 4,000-employee strong global company that has suffered several seismic blows in the last 20 months. During that trying period, Zucker was unexpectedly ousted; the streaming service CNN+ was abruptly shuttered; star anchors Chris Cuomo and Don Lemon were fired; several programming shakeups were implemented; and mass layoffs were executed. Adding to the turmoil, Licht proved to be an unpopular leader during his short run as network boss, with morale nosediving to some of the lowest levels in the company's four-decade history. It will be up to Thompson to restore trust.

► The contrast to Licht couldn't be more stark. Whereas Licht lacked the experience necessary to manage a large, ego-ridden, multi-platform organization at scale (nevermind, pushing such a company into the future), Thompson has a proven track record of doing just that. During his decades in media, Thompson earned a reputation for being a confident executive with thick skin who masterfully executes a vision, all while maintaining the support of the troops. Licht's first move was to relocate his office outside CNN's floors in Hudson Yards. Thompson's first message to staff was that he was eager to "roll up my sleeves and get down to work with my new colleagues."

► The CNN staff are cautiously optimistic. For all the whiplash and challenges the organization has endured in the last 20 months (not to mention the many years of threats and attacks from Trump and his allies), employees still deeply love CNN and believe in what those three letters stand for. They want the network to succeed. And because of that, they're excited about what Thompson might be able to do as their next leader. They've seen his track record of reshaping pre-eminent news organizations for the future. They've heard the praise his former colleagues have offered up for him. And so, like Thompson, they're ready to roll up their sleeves and get to work.