The Hollywood Reporter is a part of Penske Media Corporation. The Studios segment focuses on NBCUniversal's film and television studio production and distribution operations. He was the Co-CEO of JPMorgan Chase & Co.'s Corporate & Investment Bank from 2012 to 2014, a business that was a global leader in its industry with over $30 billion in revenue and more than 50,000 employees located in over 50 countries. TV Shows. Comcast announced on Monday that it had hired Michael J. Cavanagh as its chief financial officer, choosing a prominent Wall Street executive to help the company move forward after the. 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. Athletes' ambitions don't end when they leave the field of play. In recent years, Comcast also has struggled to transition to streaming entertainment from broadcast television and cable-TV formats. Comcast Launches 'Free This Week', Increasing Access To Streaming And Premium Network Fare For Xfinity X1 And . Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. The Hollywood Reporter is a part of Penske Media Corporation. Comcast said it signed a new employment agreement with recently named president Michael Cavanagh that runs through December 31, 2027. Prior to Roberts becoming president in 1990, the title had been held by his father, Comcast founder Ralph Roberts, who was also chairman and CEO. Click Manage settings for more information and to manage your choices. 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Cavanagh joined Philadelphia-headquartered Comcast seven years ago as chief financial officer (CFO). The corporate mailing address for Mr. Cavanagh and other Comcast executives is One Comcast Center, Philadelphia PA, 19103. from Yale University and a J.D. 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. The prices in other telecom and entertainment companies, among them Verizon, Walt Disney and Netflix, have also declined. 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. He also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. 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. There are 18 older and 3 younger executives at Comcast Corp. Its an honor to work with Brian to lead this great company, Cavanagh added. Mike also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. . Previously, Cavanagh was CEO of the firm's Treasury & Securities Services division, He will remain Chief Financial Officer. Markets never sleep, and neither does Bloomberg. What Could Elon Musk Possibly Be Thinking? 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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 as the companys Chief Financial Officer after spending more than 20 years in the financial services industry. Mike earned a B.A. Mr. Cavanagh has a broad range of responsibilities, partnering with the Chairman and CEO to manage all aspects of the business and corporate team. Cavanagh will remain on as CFO, and with this promotion, he will also work closely with Comcast's Chairman and CEO Brian Roberts to manage the . With his leadership, the company has expanded its reach significantly in the US and globally. Information about your device and internet connection, like your IP address, Browsing and search activity while using Yahoo websites and apps. $1 Million - $5 Million. Mike Cavanagh (I) on IMDb: Movies, Tv, Celebrities, and more. 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. Cavanaugh, who has spent nearly his entire coaching career mentoring offensive linemen, spent the last three seasons as the . Learn More on Michael J. Cavanagh's salary. Learn More on Michael J. Cavanagh's contact information. 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. Cavanagh who joined Comcast in 2015 after a stint at asset manager The Carlyle Group and previously co-heading investment banking at JPMorgan Chase and serving as CFO of the bank was upped to president in October. On Friday, Comcast released its executive compensation figures, showing the company's chief, Brian Roberts, received $36.2 million, and the new chief financial officer, Michael J. Cavanagh,. Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, Roberts said. from Yale University and a J.D. Since then Michael has changed 3 companies and 2 roles. PHILADELPHIA, Pa. - Comcast Corporation today announced that Mike Cavanagh has been named President. 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. Cavanagh serves on the Board of Trustees of Yale University and as chair of its investment committee. This chart shows Mr. Michael J. Cavanagh's buying and selling at Comcast by year and by quarter. With this promotion, Mike will work closely with Chairman and. But a rogue trader in London in 2012 cost JPMorgan about $6 billion and brought regulators down on it. With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the . The company will report its full . Comcast Corp. promoted Mike Cavanagh, a former Wall Street banker, to president of the Philadelphia telecom and entertainment company, the company said Wednesday. Comcast has upped its Deputy Chief Financial Officer Jason Armstrong to the CFO post, succeeding Mike Cavanagh, who was named president of the NBCUniversal parent last October.. Armstrong has served in several financial leadership positions over the past nine year. Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, said Roberts. Cavanagh has been finance chief of the media and technology company for the last seven years. Ralph Roberts, one of a troika that founded the cable-TV company in the 1960s (and who died in 2015), and his son, Brian, 62, who is chief executive officer and chairman, were the only prior presidents in the companys history, Comcast said. Michael J. Cavanagh serves as Chief Financial Officer, Senior Executive Vice President of the Company. Mike also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. As Chief Financial Officer at COMCAST CORP, Michael J. Cavanagh made $27,356,996 in total compensation. He will continue to serve as chief. All Rights Reserved. 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. Mike has a broad range of responsibilities, including overseeing all financial functions, corporate development, strategic planning, and corporate administration. 2023 The Hollywood Reporter, LLC. 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. 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. Enter your email address below to get our daily insider buying and selling report. He also serves on the board of software company HealthVerity and is a member of the Council on Foreign Relations. Comcast shares closed at $28.69 Wednesday, up 0.03%. In addition, at JPMorgan Chase and its predecessor firms, Mike held various key positions that were critical to the companys success, including CEO of the firms Treasury & Securities Services division, Head of Strategy and Planning, and Chief Operating Officer of Middle Market Banking. 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. He will continue to serve as chief financial. Currently, Michael Cavanagh works as a Chief Financial Officer at Comcast. In 2019 we welcomed three new members to our board, including a new representative of the Free Library of Philadelphia Foundation Board of Directors. The chief financial officer of the Philadelphia-headquartered conglomerate was given additional duties in October. Cavanagh will be only the third president in the company's 59-year history. Comcast Corporation has promoted Mike Cavanagh to president, making him the third person to occupy the role in the companys 59-year history. Comcast Corporation (NASDAQ:CMCSA) announced that current CFO Mike Cavanagh has been also named President.Mike will be the third President in the company's . Sky is one of Europe's leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. In addition, at JPMorgan Chase and its predecessor firms, Mike held various key positions that were critical to the companys success, including CEO of the firms Treasury & Securities Services division, Head of Strategy and Planning, and Chief Operating Officer of Middle Market Banking. Mike came to Comcast after more than 20 years in the financial services industry. He was previously co-CEO of JPMorgan Chases corporate & investment bank from 2012 to 2014, focusing on investment banking, cash management, investor services and the largest global markets and trading business in the world. He also served as JPMorgan Chases CFO for six years, helping steer the company to successfully navigate the financial crisis., In addition, at JPMorgan Chase and its predecessor firms, he held various key positions that were critical to the companys success, including CEO of the firms Treasury & Securities Services division, head of strategy and planning, and chief operating officer of Middle Market Banking, Comcast said. According to ZoomInfo records, Michael Cavanagh's professional experience began in 2021. 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. . It also provides communications services, including residential high-speed internet, phone, and wireless services. 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