Learn More about insider trades at Comcast. Mike also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. Comcast Corporation (NASDAQ: CMCSA) on Oct. 12 announced that its present chief financial officer, Mike Cavanagh, has been named president of the company. Mike has brought incredible operational and financial expertise to Comcast and is an integral part of our special company. 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. With this promotion, Mike will work closely with Chairman and. . From 2012 to 2014 he was co-chief executive officer of JPMorgan Chase & Co.s Corporate & Investment Bank, a global leader in its industry with over $30 billion in revenue and more than sixty thousand employees working in nearly 100 countries. The most active insiders traders include Brian L Roberts, Stephen B Burke, and David L Cohen. Mike will be only the third President in the company's 59-year history. 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. 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 said chief financial officer Mike Cavanagh has been promoted to president, working with chairman and CEO Brian Roberts. Michael Cavanagh is 54, he's been the Chief Financial Officer and Senior Executive Vice President of Comcast Corp since 2015. What Could Elon Musk Possibly Be Thinking? At Yale, he served as a non-trustee member of the Yale Corporation Committee on Investments before being appointed chairman of the committee. 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. As of 17 March 2022 he still owns at least 98,709 units of Comcast Corp stock. 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. This information is according to proxy statements filed for the 2021 fiscal year. The company was founded in 1963 and is headquartered in Philadelphia, PA. 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. 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. Comcast said on Wednesday that it has promoted chief financial officer Mike Cavanagh to the added role of president. Since then Michael has changed 3 companies and 2 roles. 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. 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. More from Deadline. Mike Cavanagh is only the third president in the companys 59-year history. Comcast Corp. promoted Mike Cavanagh, a former Wall Street banker, to president of the Philadelphia telecom and entertainment company, the company said Wednesday. Mike Cavanagh - @cjetnut. 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. The most recent stock trade was executed by Jason Armstrong on 14 February 2023, trading 9,726 units of CMCSA stock currently worth $361,515. Last month, Comcasts board sought to bolster the companys stock by purchasing up to $20 billion in shares as investors sold them. The estimated Net Worth of Michael J Cavanagh is at least $34.5 Million dollars as of 17 March 2022. To zoom in, use [Ctrl] + [+] in Windows, and [Cmd] + [+] on a Mac. The global economy also faces a potential recession. An Inquirer reporter since 1993, I report stories with an emphasis on enterprise, corporations, college debt, and features with a money angle. Comcast Corporation has approximately 189,000 employees worldwide and $116 billion in annual revenue. In the last twelve months, insiders at the cable giant sold shares 8 times. Comcast can also be reached via phone at (215) 286-1700. "With his leadership, the company has expanded its reach significantly in the U.S. and. 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. 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. 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Jordan Meets Reporter at 'Creed III' Premiere Who 'Teased Him all the Time' in High School: 'I Was the Corny Kid, Right? Athletes' ambitions don't end when they leave the field of play. News Wire Feed Light Reading 10/12/2022. from Yale and a J.D. from the University of Chicago. from the University of Chicago. Emily Cavanagh, Lisa Washington, and Gene LeFevre each bring their own expertise and passion for our mission. Michael Cavanagh Age : 56 Public asset : 12,244,461 USD Country of residence : Unknown Linked companies : Comcast Corporation Biography of Michael Cavanagh Presently, Michael J. Cavanagh holds the position of Chief Financial Officer for Comcast Corp. It most recently tallied revenue of $29.85 billion in the third quarter of 2022, ending Sept. 30. Cavanagh has been finance chief of the media and technology company for the last seven years. Variety and the Flying V logos are trademarks of Variety Media, LLC. NBCUniversal parent Comcast has promoted CFO Mike Cavanagh to president, working closely with chairman-CEO Brian Roberts to manage the business and teams across the sprawling company. Michael J. Cavanagh has not been actively trading shares of Comcast during the last quarter. Before that he was co-CEO of JPMorgan Chases Corporate & Investment Bank from 2012 to 2014. All Rights Reserved. Mike will be only the third president in the companys 59-year history. Burke was also friends with Jamie Dimon, JPMorgans chief executive and chairman. He is also a member of the firm's Operating Committee and Executive Committee. Mike has a broad range of responsibilities, including overseeing all financial functions, corporate development, strategic planning, and corporate administration. Mr. Cavanagh is also a director of Yum! But a rogue trader in London in 2012 cost JPMorgan about $6 billion and brought regulators down on it. He lives with his wife, Julie, adult son Dan, and two black cats in Bateman's Bay, NSW. Mr. Cavanagh has served as the Chief Financial Officer of Comcast Corporation since July 2015. On average, Michael trades about 15,269 units every 52 days since 2012. Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, said Roberts. You can change your choices at any time by visiting your privacy controls. from Yale University and a J.D. Michael J. Cavanagh serves as Chief Financial Officer, Senior Executive Vice President of the Company. 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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. 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 . 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. 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. Awesome wife and daughter. Most recently he exercised 53,400 units of CMCSA stock worth $1,956,042 on 17 March 2022. He also served as JPMorgan Chases CFO for six years helping steer the company to successfully navigate the financial crisis. Mike also serves on the board of HealthVerity and is a member of the Council on Foreign Relations. 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.Handpicked by Billy Joel to star in Movin' Out, Cavanaugh evokes a style rivaling the Piano Man.He appeared in the show for three years with over 1,200 performances and received multiple accolades. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. 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. Learn More on Michael J. Cavanagh's trading history. He will continue to act as Comcasts chief financial officer. . 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. Oct. 12, 2022, 08:24 AM. The most recent insider tranaction occured on February, 21st when Major Shareholder Corp Comcast sold 37,176 shares worth more than $75,467.28. According to ZoomInfo records, Michael Cavanagh's professional experience began in 2021. 2023 The Hollywood Reporter, LLC. Michael J. Cavanagh works as Chief Financial Officer at Comcast Corporation. Brian Roberts, Comcast's chairman and CEO, had previously held the title of president. It operates through the following segments: Cable Communications, Media, Studios, Theme Parks, and Sky. 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. Learn More on Michael J. Cavanagh's salary. Comcast's insider roster includes Kenneth Bacon (Director), Kenneth Bacon (Director), Stephen Burke (EVP), Michael Cavanagh (Sr. EVP & CFO ), David Cohen (EVP), Maritza Montiel (Director), Daniel Murdock (CAO), Brian Roberts (CEO), Jeff Shell (CEO), Neil Smit (EVP), and David Watson (CEO). NBCUniversal parent Comcast has promoted CFO Mike Cavanagh to president, working closely with chairman-CEO Brian Roberts to manage the business and teams across the sprawling company. Todays promotion will come as no surprise Mike is admired and trusted by those who know and work with him, Roberts said. Learn More on Comcast's active insiders. 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 hope you'll join us in welcoming them to the board and The Rosenbach community. Chart Data in Insider Trading History Table. Subscribe for full access to The Hollywood Reporter, The former banker is "only the third president in the companys 59-year history.". 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. 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. Burke sat on the JPMorgan board and knew Cavanagh through board presentations. June 2016. edit data. 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.. Comcast said that it had already repurchased $9 billion worth this year. Comcast Corporation is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Prior to that, he served as JPMorgan Chases CFO for six years, where he helped the company successfully navigate the financial crisis. Genre. from the University of Chicago. Comcast has approximately 186,000 employees worldwide and $121 billion in annual revenue. Prior to that, Mr. Cavanagh was the Co-Chief Executive Officer of the Corporate & Investment Bank of JPMorgan Chase & Co. from 2012 until 2014; the Chief Executive Officer of JPMorgan Chase & Co.s Treasury & Securities Services business from 2010 to 2012; and the Chief Financial Officer of JPMorgan Chase & Co. from 2004 to 2010. 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. Comcast shares closed at $28.69 Wednesday, up 0.03%. 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