Comcast appoints Mike Cavanagh as Co-Chief Executive

In a move the industry has interpreted as a clear sign of succession planning, Cavanagh will work alongside Brian L. Roberts, who will continue as Chairman and Co-CEO. Cavanagh will also be named to the Comcast Board of Directors.

Cavanagh joined Comcast in 2015 as Chief Financial Officer (CFO) and currently serves as President. Previously, he spent over two decades in financial services, most notably as Co-CEO of JPMorgan Chase’s Corporate and Investment Bank.

Cavanagh will step into his new role at a time of significant change for Comcast, the parent company of NBCUniversal. This is because Comcast is in the process of spinning out its profitable but declining cable networks into a separate publicly traded company, named Versant. Comcast is expected to conclude this process before the end of 2025.

“Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader,” said Roberts. “He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company. Mike and I work seamlessly together, and I am thrilled to be partnering with him as Co-CEO and with the rest of our talented management team for years to come.”

Cavanagh added: “Comcast is a special company with exceptional businesses and an incredible team. It is an honour to work with Brian and the entire Comcast NBCUniversal leadership team during this exciting and transformative time in our industry.”

Comcast NBC Universal recently agreed a $3bn deal that will keep its NBC network and streaming platform Peacock as the US homes of the Olympic Games through 2036. Discover more here.