He is the first executive outside the Roberts family to hold the title. Two other adult children, left home eventually, complete the extended menagerie. 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. He will remain Chief Financial Officer. 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. This information is according to proxy statements filed for the 2021 fiscal year. The Brian Roberts-led Comcast. from the University of Chicago. Comcast Cable is one of the United States' largest high-speed internet, video, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. (RTTNews) - Comcast Corp. (CMCSA) announced the appointment of Mike Cavanagh as President. Immediately prior to joining Comcast, he briefly served as Co-President and Co-Chief Operating Officer of The Carlyle Group, a leading global alternative asset manager. We have estimated Michael Cavanaugh's net worth , money, salary, income, and assets. But a rogue trader in London in 2012 cost JPMorgan about $6 billion and brought regulators down on it. The Brian Roberts-led Comcast. As the Sr. EVP & CFO of Comcast Co., Mr. Cavanagh earned a total compensation package of $369,489.00 in 2021. Comcast Corporation is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Overnight on Wall Street is daytime in Asia. Cindy Ord/Getty Images Entertainment. Comcast Corporation announced Wednesday that Chief Financial Officer (CFO) Mike Cavanagh has been promoted to the added role of President, making him the the third in the company's 59-year history. Comcast Corporation (NASDAQ: CMCSA) on Oct. 12 announced that its present chief financial officer, Mike Cavanagh, has been named president of the company. Over the last 20 years, insiders at Comcast Corp have traded over $326,465,581 worth of Comcast Corp stock and bought 128,900 units worth $3,014,835 The Brian Roberts-led Comcast disclosed Dec. 30 that it entered into a new employment agreement with Cavanagh through the end of 2027. With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the businesses and teams across the company. Most recently he exercised 53,400 units of CMCSA stock worth $1,956,042 on 17 March 2022. Subscribe for full access to The Hollywood Reporter, The former banker is "only the third president in the companys 59-year history.". Cavanagh was raised on Long Island in an Irish-Catholic family. He rowed at Yale. Find out more about how we use your information in our privacy policy and cookie policy. 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With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the businesses and teams across the company. With his leadership, the company has expanded its reach significantly in the U.S. and globally, Comcast said. For best results: use the most recent version of your browser, disable your browser's 'zoom text only' setting, and use your browser's default font size settings. Member Since. Last month, Comcasts board sought to bolster the companys stock by purchasing up to $20 billion in shares as investors sold them. Comcast Corp. engages in the provision of video, Internet, and phone services. from Yale and a J.D. Chart Data in Insider Trading History Table. 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 . In 2019 we welcomed three new members to our board, including a new representative of the Free Library of Philadelphia Foundation Board of Directors. 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. Mike will be only the third president in the companys 59-year history. Michael's mailing address filed with the SEC is ONE COMCAST CENTER, , PHILADELPHIA, PA, 19103. Immediately prior to joining Comcast, he briefly served as co-president and co-chief operating officer of The Carlyle Group, a leading global alternative asset manager. Mike Cavanagh, Senior Executive Vice President & Chief Financial Officer, and APA Executive Champion, shares his thoughts on why it's important to be open when receiving feedback. 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 Discovery fell 60 percent since the combined firm started trading, Netflix dropped 50 percent, Disney fell 44 percent the media and cable conglomerate fell 31 percent over the course of 2022. The estimated Net Worth of Michael J Cavanagh is at least $34.5 Million dollars as of 17 March 2022. Prior to entering politics, he spent 25 years at the private-equity firm the Carlyle Group . Learn More on Michael J. Cavanagh's salary. New Comcast CFO says company must avoid complacency [from 2015], wireless competitors offering 5G wireless internet to homes, California residents do not sell my data request. Comcast Corporation Promotes Mike Cavanagh to President Business Wire PHILADELPHIA -- October 12, 2022 Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has . Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, Roberts said. Mike came to Comcast after more than 20 years in the financial services industry. Mike will be only the third President in the company's 59-year history. Live market coverage co-anchored from Hong Kong and New York. He will continue to serve as chief financial. "With his leadership, the company has expanded its reach significantly in the U.S. and. To zoom out, use the keyboard shortcut [Ctrl] + [-] in Windows and [Cmd] + [-] on a Mac. According to ZoomInfo records, Michael Cavanagh's professional experience began in 2021. Michael Cavanagh, the chief financial officer of Comcast who was recently given the added title of president, has inked a new multi-year deal with the company. Cavanagh, 56, has served as CFO since 2015 and will continue in that role in addition to his promotion to president. As of 17 March 2022 he still owns at least 98,709 units of Comcast Corp stock. Trustee Michael J. Cavanagh serves as President of Comcast Corporation, a Fortune 30 global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Immediately prior to joining Comcast, he briefly served as Co-President and Co-Chief Operating Officer of The Carlyle Group, a leading global alternative asset manager. Michael Cavanagh serves as Chief Financial Officer of Comcast Corporation. BREAKING: Tiny biotech successfully treats blindness. We hope you'll join us in welcoming them to the board and The Rosenbach community. In a banking career, Cavanagh rose to the top echelons of JPMorgan as co-CEO of JPMorgans corporate and investment bank. Michael J. Cavanagh serves as Chief Financial Officer, Senior Executive Vice President of the Company. With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the . With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the businesses and teams across the company. News Wire Feed Light Reading 10/12/2022. He was Co-CEO of JPMorgan Chase's Corporate & Investment Bank from 2012 to 2014, a global leader in its. He was the Co-CEO of JPMorgan Chase's . In recent years, Comcast also has struggled to transition to streaming entertainment from broadcast television and cable-TV formats. Immediately prior to joining Comcast, he briefly served as co-president and co-chief operating officer of The Carlyle Group, a leading global alternative asset manager.. 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 There are 18 older and 3 younger executives at Comcast Corp. Mr. Cavanagh owns over 53,400 units of Comcast Corp stock worth over $3,615,711 and over the last 10 years he sold CMCSA stock worth over $4,083,951. 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. The most active insiders traders include Brian L Roberts, Stephen B Burke, and David L Cohen. Cavanagh will remain as Comcast's CFO, a position he has held since joining the company seven years ago. With this promotion, Mike will work closely with . The Hollywood Reporter is a part of Penske Media Corporation. Movies. Mike joined Comcast in 2015 after spending more than 20 years in the financial services industry. Mr. Cavanagh earned a salary of $200,000.00, a bonus of $20,000.00, options awards of $113,489.00, and other compensation of $36,000.00. We, Yahoo, are part of the Yahoo family of brands. Cavanagh earned a B.A. https://oneofitslegs.org. Mike has a broad range of responsibilities, including overseeing all financial functions, corporate development, strategic planning, and corporate administration. from the University of Chicago. Last updated: 18 March 2022 at 5:05pm EST. It also provides wireless and security and automation services to residential customers under the Xfinity brand. Michael J. Cavanagh has not been actively trading shares of Comcast during the last quarter. Comcast can also be reached via phone at (215) 286-1700. Get notified the next time Michael J. Cavanagh buys or sells Comcast stock. He also serves on the board of software company HealthVerity and is a member of the Council on Foreign Relations. 2023 The Hollywood Reporter, LLC. Comcast has approximately 186,000 employees worldwide and $121 billion in annual revenue. Mr. Cavanagh has a broad range of responsibilities, partnering with the Chairman and CEO to manage all aspects of the business and corporate team. Mike joined Comcast in 2015 as the companys Chief Financial Officer after spending more than 20 years in the financial services industry. Mike Cavanagh | Comcast. Michael J. Cavanagh serves as President of Comcast Corporation, a Fortune 30 global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. TV Shows. 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. Before that he was co-CEO of JPMorgan Chases Corporate & Investment Bank from 2012 to 2014. Cavanagh joined Philadelphia-headquartered Comcast seven years ago as chief financial officer (CFO). The Hollywood Reporter is a part of Penske Media Corporation. Track your investments 24 hours a day, around the clock from around the world. Comcast Corp executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Due to a planned power outage on Friday, 1/14, between 8am-1pm PST, some services may be impacted. from Yale University and a J.D. Mike has a broad range of responsibilities, including managing the businesses and teams across the company, overseeing all financial functions, corporate development, strategic planning, and corporate administration. 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. He serves on the Board of Trustees of Yale and is Chairman of its Investment Committee. Mr. Cavanagh is also a director of Yum! The company will report its full . 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