Comcast Promotes Mike Kavanagh to President, but will Remain CFO

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Comcast, the parent company of NBCUniversal, has appointed CFO Mike Kavanagh as president, working closely with chairman-CEO Brian Roberts to manage the business and teams at the sprawling company.

Comcast notes that he will be only the third executive to receive this title in the 59-year history of the company, and will also remain chief financial officer.

“Today’s promotion will not come as a surprise — Mike is admired and trusted by those who know him and work with him,” Roberts said. “Mike has brought incredible operational and financial experience to Comcast and is an integral part of our special company. He is an outstanding partner and together we are focused on continuing to create exciting new growth opportunities.”

“It’s an honor to work with Brian and lead this wonderful company,” Kavanagh added. “We have an exceptional business with world-class executives in the person of Dana, Dave and Jeff, and I am proud to call them my partners. I look forward to working together to shape Comcast’s bright future.” He is referring to Dana Strong, CEO of Sky; Dave Watson, CEO of Comcast Cable; and Jeff Shell, CEO of NBCUniversal.

Kavanagh joined Comcast seven years ago as CFO and helped oversee a significant expansion of its presence in the U.S. and around the world.

Immediately before joining the company, he served for some time as co-president and co-director of operations at The Carlyle Group, a leading international asset management company. Previously, he worked for 20 years in the financial services industry, most recently as co-CEO of JPMorgan Chase corporate and investment bank from 2012 to 2014, where he led investment banking services, money management, investor services and the world’s largest markets and trading business. in a world with more than $30 billion in revenue at that time and more than 60,000 employees in almost 100 countries.

He also served as Chief Financial Officer of JPMorgan Chase, and prior to that held other key positions at JPMorgan Chase and its predecessors.

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