(L-R) Michael Cavanagh, then-chief monetary officer of Comcast, talks with Brian Roberts, chief government officer of Comcast, as they arrive for the annual Allen & Company Sun Valley Conference, July 9, 2019 in Sun Valley, Idaho.
Drew Angerer | Getty Images
Comcast introduced Monday it is named Mike Cavanagh as co-CEO alongside longtime chief Brian Roberts, starting in January.
Cavanagh, who at the moment serves as president, may even be named to the Comcast board of administrators at the moment, efficient in January. Roberts will stay as chairman and co-CEO of the corporate.
“Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader,” stated Roberts in a press release. “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.”
Initially, Cavanagh served as chief monetary officer of the cable big, which consists of a broadband, cable TV and cell firm as properly as NBCUniversal. Prior to Comcast, Cavanagh was co-CEO of JPMorgan’s company and funding financial institution.
“Comcast is a special company with exceptional businesses and an incredible team. It is an honor to work with Brian and the entire Comcast NBCUniversal leadership team during this exciting and transformative time in our industry,” stated Cavanagh.
Cavanagh has lengthy been thought-about inheritor obvious to Roberts by business insiders, CNBC reported this yr.
In 2022 he was promoted to president of Comcast and months later his function expanded when Jeff Shell exited his function as CEO of NBCUniversal. Cavanagh took over direct management of the corporate’s TV, movie and theme park items, though was by no means formally named CEO of that unit.
Since then he has embedded within the NBCUniversal enterprise, and has overseen quite a lot of modifications on the unit, specifically NBCUniversal’s spin out of its cable TV networks, together with CNBC, MSNBC and the Golf Channel.
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Disclosure: Comcast is the mum or dad firm of NBCUniversal, which owns CNBC. Versant would change into the brand new mum or dad firm of CNBC upon Comcast’s deliberate spinoff of Versant.