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 President in the company’s 59-year history.
Cavanagh will remain as CFO, and with this promotion, he will also work closely with Comcast’s Chairman and CEO Brian Roberts to manage the businesses and teams across the global media and technology company.
“Today’s promotion will come as no surprise – Mike is admired and trusted by those who know and work with him,” Roberts said. “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 stated. “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.”
Cavanagh joined JP Morgan Chase seven years ago, as its CFO. He had more than twenty years experience in the financial service industry. He was previously co-CEO of JP Morgan Chase’s corporate and investment bank from 2012 to 2014 and headed all cash management, innvestor services and the largest global markets and trading business in the world. He also served as JP Morgan Chase’s CFO for six years, “helping steer the company to successfully navigate the financial crisis.”
“With his leadership, [Comcast]It has increased its reach significantly in America and worldwide, stated the company in a statement.
Cavanagh held key positions at JP Morgan Chase, and other predecessor firms. “critical to the company’s success,” including CEO of the firm’s Treasury & Securities Services division, Head of Strategy and Planning, and Chief Operating Officer of Middle Market Banking. He was previously the Co-President of The Carlyle Group and Co-Chief Operating Officer of Middle Market Banking.
Cavanagh was awarded a B.A. From Yale University, Cavanagh earned a B.A. and a J.D. He graduated from the University of Chicago. He is Chairman of Yale’s investment committee and serves as Chairman of the Board of Trustees. Yale has over $40 billion in assets under management. Cavanagh serves on the board for software company HealthVerity, and is a member on the Council on Foreign Relations.
