Comcast names Carlyle Group's Cavanagh as CFO
DetailsMichelle Clancy | 12 May 2015
Cable MSO Comcast has named Carlyle Group veteran Michael Cavanagh as SEVP and CFO.
He will join Comcast early this summer and will be based at Comcast's headquarters in Philadelphia. At the Carlyle Group, Cavanagh served as its co-president and co-COO in New York. Prior to Carlyle, Cavanagh spent almost ten years as a member of the operating committee of JPMorgan Chase & Co, and served nearly six years as its CFO.
"I'm so thrilled Mike is joining our team. He is a world-class executive with significant experience leading and overseeing large companies with multiple, complex businesses," said Comcast chairman and CEO Brian Roberts. "He has had a distinguished career that spans more than two decades, is incredibly talented, and will be a great leader for Comcast."
Comcast's appointment of Cavanagh follows a national search for a CFO, after the company announced it entered into an agreement with vice chairman and current CFO Michael Angelakis to establish a new, strategic company that will focus on investing in and operating growth-oriented companies, both domestically and internationally.
"Comcast is an exceptional company that is well-positioned to win in the rapidly evolving media and technology industries," Cavanagh said. "The opportunity to work closely with Brian and one of the best management teams I've come across in any industry was something I could not pass up. Carlyle is a great organization with a bright future. Michael Angelakis has helped build Comcast into the strong financial position it is in today and I can't wait to get to work with my new colleagues to further expand on the company's success."
Cavanagh earned a BA from Yale University and a JD from the University of Chicago.