Comcast promotes CFO Cavanagh to president
Comcast has given its CFO Mike Cavanagh the additional title of president, putting him in a senior position under 63-year-old chairman and CEO Brian Roberts.
The company, which owns cable and telecoms networks in the US as well as the Sky content, internet and satellite group in Europe, said Cavanagh (pictured) will retain his role as CFO.
Roberts said: “Mike has brought incredible operational and financial expertise to Comcast and is an integral part of our special company. He’s an outstanding partner and together we are focused on continuing to create new and exciting opportunities for growth.”
Comcast, with 57 million customers and listed on Nasdaq, recruited Cavanagh from the banking industry seven years ago.
He said: “It’s an honour to work with Brian to lead this great company. We have exceptional businesses with world-class executives in Dana, Dave, and Jeff and I’m proud to call them my partners.”
Dana Strong is group CEO of Sky in the UK, acquired by Comcast in 2018 for £30 billion. She is a former president and COO of Virgin Media. David Watson is president and CEO of Comcast Cable in the US. Jeff Shell is CEO of NBC Universal, the group’s programming arm, bought a decade ago for $13.75 billion.
“I look forward to working together to shape the bright future of Comcast,” said Cavanagh, who was co-CEO of JPMorgan Chase’s corporate and investment bank from 2012 to 2014. He also served as JPMorgan Chase’s CFO for six years, through the 2008 financial crisis.