Comcast Corporation Oct. 12 announced that Mike Cavanagh has been named president of the media giant, to work closely with chairman/CEO Brian Roberts to manage the businesses and teams across the company. Gift this article. PHILADELPHIA--(BUSINESS WIRE)--Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has been named President. We have estimated Michael Cavanaugh's net worth , money, salary, income, and assets. Burke was also friends with Jamie Dimon, JPMorgans chief executive and chairman. According to a filing with the Securities & Exchange Commission, the deal calls for Cavanagh to receive an annual base salary of $2.5 million, effective March 1, 2023. We have exceptional businesses with world-class executives in (Sky CEO) Dana (Strong), (Comcast Cable CEO) Dave (Watson) and (NBCUniversal CEO) Jeff (Shell), and Im proud to call them my partners. Two other adult children, left home eventually, complete the extended menagerie. PHILADELPHIA -- (BUSINESS WIRE)--Oct. 12, 2022-- Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has been named President. For the past seven years Mike has been an incredible leader, partner and friend, Roberts said on the companys quarterly earnings call in late October of Cavanaghs new title. Comcast Corporation (NASDAQ: CMCSA) on Oct. 12 announced that its present chief financial officer, Mike Cavanagh, has been named president of the company. Cavanagh joined Philadelphia-headquartered Comcast seven years ago as chief financial officer (CFO). Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. They sold a total of 7,602,130 shares worth more than $22,410,930.47. He will remain chief financial officer. Mike will be only the third president in the companys 59-year history. The Brian Roberts-led Comcast. from the University of Chicago. https://oneofitslegs.org. Mike will be only the third President in the company's 59-year history. He is also a member of the firm's Operating Committee and Executive Committee. What Could Elon Musk Possibly Be Thinking? Comcast Corporation Promotes Mike Cavanagh to President. The Cable Communications segment consists of Comcast Cable, which is a provider of broadband, video, voice, wireless, and other services to residential customers in the United States under the Xfinity brand. And we are both very focused on continuing to innovate and grow this wonderful company for all our employees, customers and guests., Sign up for THR news straight to your inbox every day. Michael Cavanaugh is the new voice of the American Rock & Roll Songbook and a charismatic performer and musician made famous for his piano/lead vocals in the Broadway musical Movin' Out. 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Ready for Tolkien Battle, How the Landscape of Native-Led Stories Has Changed Between Avatars: Were Flexing Our Sovereignty, The Definitive Voice of Entertainment News. Mike joined Comcast in 2015 after spending more than 20 years in the financial services industry, primarily for JPMorganChase and the Carlyle Group. The most recent insider tranaction occured on February, 21st when Major Shareholder Corp Comcast sold 37,176 shares worth more than $75,467.28. Awesome wife and daughter. This information is according to proxy statements filed for the 2021 fiscal year. With his leadership, the company has expanded its reach significantly in the US and globally. Michael Cavanagh serves as Chief Financial Officer of Comcast Corporation. June 2016. edit data. The oldest executive at Comcast Corp is Maritza Montiel, 68, who is the Independent Director. READ MORE: New Comcast CFO says company must avoid complacency [from 2015]. With this promotion, Mike will work closely with chairman and CEO Brian L. Roberts to manage the businesses and teams across the company, it said. Michael J Cavanagh, Comcast: Profile and Biography - Bloomberg Markets Subscribe Live Now Bloomberg TV+ Bloomberg Markets China Open Bloomberg Markets: China Open is the definitive. It most recently tallied revenue of $29.85 billion in the third quarter of 2022, ending Sept. 30. Learn More on Comcast's active insiders. ', The True Story Behind 'Cocaine Bear': A 175-Pound Beast, a Dead Drug Smuggler in Gucci Loafers and More, Super Mario Bros. 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Cavanagh said in a statement that he looks forward to working together to shape the bright future of Comcast. He was compensated $27.4 million last year. 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. Why? Insiders at Comcast own 1.1% of the company. Prior to entering politics, he spent 25 years at the private-equity firm the Carlyle Group . It also provides wireless and security and automation services to residential customers under the Xfinity brand. They peaked in August 2021 at about $60 a share. He will remain Chief Financial Officer. Mr. Cavanagh served as the Co-President and Co-Chief Operating Officer at The Carlyle Group LP since joining in April 2014. Beginning early this summer, Cavanagh, 50, will replace the company's current CFO, Michael Angelakis, who will head up Comcast's new company focused on investing in and operating growth-oriented companies. Comcast said chief financial officer Mike Cavanagh has been promoted to president, working with chairman and CEO Brian Roberts. . He also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. From 2012 to 2014 he was co-chief executive officer of JPMorgan Chase & Co.s Corporate & Investment Bank, a global leader in its industry with over $30 billion in revenue and more than sixty thousand employees working in nearly 100 countries. Mike joined Comcast in 2015 after spending more than 20 years in the financial services Michael J. Cavanagh, President and Chief Financial Officer, Comcast Corporation corporate.comcast.com Most recently he exercised 53,400 units of CMCSA stock worth $1,956,042 on 17 March 2022. Prior to joining our company, Mr. Cavanagh had been Co-President and Co-Chief Operating Officer for The Carlyle Group, a global investment firm, since 2014. Genre. By clicking Accept all you agree that Yahoo and our partners will process your personal information, and use technologies such as cookies, to display personalised ads and content, for ad and content measurement, audience insights, and product development. Comcast, the biggest publicly traded company based in Philadelphia with about 8,000 employees downtown, faces new competition in its bread-and-butter broadband business with wireless competitors offering 5G wireless internet to homes. Member Since. Prior to this, he served as the Co-President and Co-Chief Operating Officer of Carlyle Group Management L.l.c., until May 8, 2015. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. Comcast Corporation today announced that Mike Cavanagh has been named President. Comcast's insider roster includes Kenneth Bacon (Director), Kenneth Bacon (Director), Stephen Burke (EVP), Michael Cavanagh (Sr. EVP & CFO ), David Cohen (EVP), Maritza Montiel (Director), Daniel Murdock (CAO), Brian Roberts (CEO), Jeff Shell (CEO), Neil Smit (EVP), and David Watson (CEO). 2 min read Comcast Corporation Comcast Corporation announced Wednesday that Chief Financial Officer (CFO) Mike Cavanagh has been promoted to the added role of. Learn More about insider trades at Comcast. Information on this page was last updated on 2/21/2023. He will continue to serve as chief financial. "With his leadership, the company has expanded its reach significantly in the U.S. and. Philadelphia, PA Comcast Corporation today announced that Mike Cavanagh has been named President. He will remain chief financial officer., Said Roberts: Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him. Michael J. Cavanagh serves as Chief Financial Officer of Comcast Corporation, a Fortune 30 global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. The Hollywood Reporter is a part of Penske Media Corporation. To zoom in, use [Ctrl] + [+] in Windows, and [Cmd] + [+] on a Mac. Comcast named Michael J. Cavanagh as its chief financial officer Monday. News Wire Feed Light Reading 10/12/2022. At Yale, he served as a non-trustee member of the Yale Corporation Committee on Investments before being appointed chairman of the committee. Mike Cavanaugh. He was Co-CEO of JPMorgan Chases Corporate & Investment Bank from 2012 to 2014, a global leader in its industry with over $30 billion in revenue at the time and more than 60,000 employees located in nearly 100 countries. He is also on the board of Yale University and Member of Council on Foreign Relations, Inc. Mike Cavanagh is co-CEO of J.P. Morgan's Corporate & Investment Bank, an industry leader in investment banking, trading markets and investor services such as cash management, clearing and prime brokerage. With this promotion, Mike will work closely with Chairman and. Menu. Cavanaghs promotion takes place at a tenuous time for Comcast with its stock price declining considerably over the last year as it looks for new areas of growth and lags in entertainment streaming. Prior to that, Mr. Cavanagh was the Co-Chief Executive Officer of the Corporate & Investment Bank of JPMorgan Chase & Co. from 2012 until 2014; the Chief Executive Officer of JPMorgan Chase & Co.s Treasury & Securities Services business from 2010 to 2012; and the Chief Financial Officer of JPMorgan Chase & Co. from 2004 to 2010. In a banking career, Cavanagh rose to the top echelons of JPMorgan as co-CEO of JPMorgans corporate and investment bank. He is a friend, and I congratulate him on his new role at Comcast., Sign up for THR news straight to your inbox every day. Its an honor to work with Brian to lead this great company, Cavanagh added. Comcast chief financial officer Mike Cavanagh said the conglom was "pleased" with the weekend PVOD debut of Pete Davidson-starrer The King Of Staten Island - its latest film to go direc Overnight on Wall Street is daytime in Asia. 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Subscribe for full access to The Hollywood Reporter, The former banker is "only the third president in the companys 59-year history.". Public Records. 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 . Learn More on Michael J. Cavanagh's salary. As the Sr. EVP & CFO of Comcast Co., Mr. Cavanagh earned a total compensation package of $369,489.00 in 2021. Chart Data in Insider Trading History Table. Comcast Corporation has approximately 189,000 employees worldwide and $116 billion in annual revenue. Mr. Cavanagh has served as the Chief Financial Officer of Comcast Corporation since July 2015. "With his leadership, the company has expanded its reach significantly in the U.S. and. Mike also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. Comcast Corporation Promotes Mike Cavanagh to President Business Wire PHILADELPHIA -- October 12, 2022 Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has . In recent years, Comcast also has struggled to transition to streaming entertainment from broadcast television and cable-TV formats. Comcast reported revenue of $116.4 billion for fiscal year 2021. Get notified the next time Michael J. Cavanagh buys or sells Comcast stock. The agreement stipulates a base salary of $2.5 million beginning next March, as well as a performance-based award, per the Securities and Exchange Commission filing. More from Deadline. Michael Cavanagh serves as President and Chief Financial Officer of Comcast Corporation. 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Ready for Tolkien Battle, How the Landscape of Native-Led Stories Has Changed Between Avatars: Were Flexing Our Sovereignty, The Definitive Voice of Entertainment News. Michael Cavanagh is 54, he's been the Chief Financial Officer and Senior Executive Vice President of Comcast Corp since 2015. Comcast Comcast Corporation has promoted Mike Cavanagh to president, making him the third person to occupy the role in the company's 59-year history. The largest trade he's ever made was selling 152,557 units of Comcast Corp stock on 3 February 2015 worth over $4,083,951. The Sky segment provides operations of Sky, one of Europe's entertainment companies, which primarily includes a direct-to-consumer business, providing video, broadband, voice and wireless phone services, and a content business, operating entertainment networks, the Sky News broadcast network, and Sky Sports networks. 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