Prior to that, he served as JPMorgan Chases CFO for six years, where he helped the company successfully navigate the financial crisis. 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 Genre. Mr. Cavanagh was appointed a successor trustee in 2020. 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. Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has been named President. The chief financial officer of the Philadelphia-headquartered conglomerate was given additional duties in October. Comcast Corporation Promotes Mike Cavanagh to President. Mike Cavanagh has been Comcast's chief financial officer since 2015. In the last twelve months, insiders at the cable giant sold shares 8 times. Comcast Corp. has promoted Mike Cavanagh to be the company's third president in its 59-year history. 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. All Rights Reserved. Mr. Cavanagh earned a B.A. The estimated Net Worth of Michael J Cavanagh is at least $34.5 Million dollars as of 17 March 2022. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. Dimon said in a statement Wednesday that Cavanagh led complex global businesses at JPMorgan Chase and served as our chief financial officer through the worst parts of the global financial crisis.. He will continue to serve as chief financial. 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 . 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. October 12, 2022. in News. 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. Variety and the Flying V logos are trademarks of Variety Media, LLC. 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. Markets never sleep, and neither does Bloomberg. Of this total $2,300,000 was received as a salary, $8,625,001 was received as a bonus, $6,315,164 was received in stock options, $10,072,244 was awarded as stock and $44,587 came from other types of compensation. 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. Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, Roberts said. 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. 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. Previously he served as JPMorgan Chases CFO for six years, where he helped the company successfully navigate the financial crisis. He is from United States. In addition, at JPMorgan Chase and its predecessor firms, Mr. Cavanagh 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. You can see the complete history of Mr. Cavanagh stock trades at the bottom of the page. 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. 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. While Comcast stock price hasnt fallen as much as some of its Hollywood peers this year Warner Bros. With this promotion, Mike will work closely with Chairman and CEO Brian L. Roberts to manage the . READ MORE: New Comcast CFO says company must avoid complacency [from 2015]. Burke sat on the JPMorgan board and knew Cavanagh through board presentations. Mr. Cavanagh has a broad range of responsibilities, partnering with the Chairman and CEO to manage all aspects of the business and corporate team. He will continue to act as Comcasts chief financial officer. Find out more about how we use your information in our privacy policy and cookie policy. Head Coach Herm Edwards has tabbed another addition to his Sun Devil Football coaching staff on January 28, 2021, announcing 35-year coaching veteran Mike Cavanaugh as the program's offensive line coach. He will continue to serve as chief financial officer in addition to working closely with chairman-CEO Brian Roberts on managing the companys cable and broadband operations as well as NBCUniversal. Emily Cavanagh, Lisa Washington, and Gene LeFevre each bring their own expertise and passion for our mission. 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. Oct. 12, 2022, 08:24 AM. 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 . Learn More on Comcast's active insiders. Cavanagh came to the company seven years ago as the CFO following a stint as co-president and co-chief operating officer of private equity giant Carlyle Group. from Yale and a J.D. Said Jamie Dimon, chairman and CEO of JPMorgan Chase: Mike Cavanagh is an outstanding executive and leader what I call an elite business athlete who led complex global businesses at JPMorgan Chase and served as our chief financial officer through the worst parts of the global financial crisis. We have exceptional businesses with world-class executives in Dana, Dave, and Jeff and Im proud to call them my partners. 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. There are 18 older and 3 younger executives at Comcast Corp. Gift this article. The most recent insider tranaction occured on February, 21st when Major Shareholder Corp Comcast sold 37,176 shares worth more than $75,467.28. JPMorgan came through the financial crisis of 2008-09 mostly unscathed. Enter your email address below to get our daily insider buying and selling report. We hope you'll join us in welcoming them to the board and The Rosenbach community. PHILADELPHIA--(BUSINESS WIRE)--Comcast Corporation (Nasdaq: CMCSA) today announced that Mike Cavanagh has been named President. 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. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. He lives with his wife, Julie, adult son Dan, and two black cats in Bateman's Bay, NSW. He also served as JPMorgan Chases CFO for six years and held a number of positions within the company and its predecessor firms including CEO of the firms Treasury & Securities Services division. 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. Comcast reported revenue of $116.4 billion for fiscal year 2021. . from Yale University and a J.D. 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. Learn More on Michael J. Cavanagh's salary. It also provides wireless and security and automation services to residential customers under the Xfinity brand. Michael Cavanagh is 54, he's been the Chief Financial Officer and Senior Executive Vice President of Comcast Corp since 2015. Cavanagh, also the companys chief financial officer, has not been appointed to the board. 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. The Hollywood Reporter is a part of Penske Media Corporation. 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. 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,. 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 Mike will be only the third President in the company's 59-year history. The Brian Roberts-led Comcast. 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