Appointments

Armstrong promoted to CFO at Comcast

Jason_Armstrong_Comcast_Corporation.jpg

Comcast Corporation has promoted Jason S. Armstrong to the role chief financial officer (CFO), succeeding Mike Cavanagh who was named president of the company in October.

“Jason is ideally suited to be our next Chief Financial Officer,” said Cavanagh.

“He is a trusted voice in the financial community, has a great understanding of our company, and is well respected by our management team. Jason is already playing a pivotal role in shaping our long-term strategy and I couldn’t be more excited to partner with him going forward.”

Armstrong's newly elevated position comes after serving nine years in several financial leadership positions at Comcast, including most recently as deputy CFO and treasurer.

As deputy CFO, Armstrong led the treasury and finance divisions at Comcast and managed the corporation’s capital formation, capital allocation, credit activities and investment activities, working alongside Comcast Cable, NBCUniversal and Sky.

Prior to this, he served as treasurer of Comcast, as chief financial officer at Sky, and head of Investor relations and finance at Comcast.

Earlier on in his career, Armstrong spent 13 years at Goldman Sachs where he served as managing director and leader of the firm’s cable and telecommunications research group.

“I’m incredibly honoured to have this role and to work alongside Brian and Mike and this exceptional team,” added Armstrong.

“Comcast’s leadership, culture, strong financial position and commitment to innovation and growth attracted me here nearly a decade ago and continue to drive my excitement about the opportunities ahead of us.”

In related news, December saw Comcast completed 'the world’s first' live, multigigabit symmetrical Internet connection powered by 10G and Full Duplex DOCSIS 4.0.

In the trial, Comcast connected a business location in Philadelphia to its live network including a DOCSIS 4.0-enabled 10G node and multiple cable modems to deliver high speed data service to the site.

“We started this year with the announcement of our world-first test of 10G modem technology capable of delivering multi-gig speeds to homes and, as of today, 10G is a reality with the potential to transform and evolve the Internet as we know it,” said Elad Nafshi, EVP and chief network officer at Comcast Cable.