NBCUniversal parent Comcast has promoted CFO Mike Cavanagh to president, working closely with chairman-CEO Brian Roberts to manage the business and teams across the sprawling company.
He’ll only be the third executive to hold that title in the company’s 59-year history, Comcast noted, and will also remain chief financial officer.
“Today’s promotion will come as no surprise – Mike is admired and trusted by those who know and work with him,” said Roberts. “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.”
“It’s an honor to work with Brian to lead this great company,” Cavanagh added. “We have exceptional businesses with world-class executives in Dana, Dave and Jeff, and I’m proud to call them my partners. I look forward to working together to shape the bright future of Comcast.” He’s referring to Dana Strong, CEO of Sky; Dave Watson, CEO of Comcast Cable; and Jeff Shell, CEO of NBCUniversal.
Cavanagh joined Comcast seven years ago as CFO and has helped oversee a significant expansion of its reach in the U.S. and globally.
Immediately prior to joining the company, he briefly served as co-president and co-chief operating officer of The Carlyle Group, a leading global asset manager. Previously, he worked for 20 years in the financial services industry most recently as Co-CEO of JPMorgan Chase’s Corporate & Investment Bank from 2012 to 2014 where he co-led investment banking, cash management, investor services and the largest global markets and trading business in the world with over $30 billion in revenue at the time and more than 60,000 employees in nearly 100 countries.
He also served as JPMorgan Chase’s CFO and before that held other key positions at JPMorgan Chase and its predecessor firms.