Comcast Corporation, the parent company of NBCUniversal, has announced that Mike Cavanagh will be joining longtime leader Brian Roberts as Co-CEO starting next year.
Co-CEO Mike Cavanagh
In a new article from CNBC, it has been revealed that Comcast will be appointing Mike Cavanagh as a new Co-CEO of the company. He will also join the Comcast board of directors at the same time.
Cavanagh currently serves as president of Comcast after previously serving as chief financial officer. Prior to his decade of work with Comcast, Cavanagh was the Co-CEO of JPMorgan’s corporate and investment bank.
CNBC notes that Cavanagh essentially led all of the company’s TV, film, and theme park divisions since the departure of previous NBCUniversal CEO Jeff Shell in 2022, “although [Cavanagh] was never officially named CEO of NBCUniversal.” He was the main leader for “NBCUniversal’s spinout of its cable TV networks, including CNBC, MSNBC, and the Golf Channel.”
The plan is for Cavanagh to work alongside current CEO Brian Roberts starting next January. Roberts has been the CEO of Comcast since 2002. In a statement, he described Cavanagh saying,
Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader. 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.
Brian Roberts
CNBC also notes that Cavanagh has “has long been considered heir apparent to Roberts by industry insiders.” An article by The New York Times calls the decision to make Cavanagh a Co-CEO “a clear sign of succession planning.”
In a statement, Cavanagh adressed the news saying, “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.”
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