Comcast has promoted President Mike Cavanagh to the role of co-CEO alongside Brian Roberts, effective Jan. 1, 2026.
In his current role, Cavanagh has managed all aspects of Comcast’s business with Roberts, including its approximately 182,000 employees worldwide and $124 billion in annual revenue. He first joined the company in 2015 as chief financial officer after over 20 years in the financial services industry and permanently took oversight of NBCUniversal after Jeff Shell’s ouster in 2023.
Prior to that, Cavanagh served as co-president and co-chief operating officer of the global alternative asset management firm The Carlyle Group. From 2012 to 2014, he served as co-CEO of J.P. Morgan Chase’s Corporate & Investment Bank, overseeing all investment banking, cash management, investor services and the largest global markets and trading business in the world. Before that, he was the bank’s CFO for six years, where he helped lead it through the financial crisis.
In addition to the co-CEO role, Cavanagh will be appointed to Comcast’s board of directors. Roberts, who will remain as chairman and co-CEO, has been at the helm of Comcast for over 20 years, serving as president in 1990, CEO in 2002 and chairman of the board in 2004.
“Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader,” Roberts said in a Monday statement. “He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company. Mike and I work seamlessly together, and I am thrilled to be partnering with him as co-CEO and with the rest of our talented management team, for years to come.”
“Comcast is a special company with exceptional businesses and an incredible team,” Cavanagh said. “It is an honor to work with Brian and the entire Comcast NBCUniversal leadership team during this exciting and transformative time in our industry.”
Cavanagh’s promotion comes as Comcast is gearing up to spin off its cable network portfolio into a publicly traded standalone company called Versant by the end of the year. Comcast will report its next quarterly earnings on Oct. 30.
Shares of Comcast have fallen 29.8% in the past five years, 24% in the past year, 15.2% year to date, 14% in the past six months and 6.6% in the past month.
