Comcast Appoints Mike Cavanagh as Co-CEO Alongside Brian Roberts

PHILADELPHIA, Pa. – Comcast announced Monday that Mike Cavanagh will become co-CEO, effective January 1, 2026. Cavanagh, currently the company’s president, will join longtime CEO Brian Roberts in leading the media giant.

Roberts, who is the son of Comcast’s late founder Ralph Roberts, will continue as chairman. In a statement, Roberts praised Cavanagh’s leadership skills, saying, “Since joining Comcast a decade ago, Mike has proven himself to be a trusted and collaborative leader. He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company.”

Cavanagh joined Comcast in 2015 as chief financial officer. His role expanded when he was named president in 2022 after the departure of Jeff Shell, who previously led NBCUniversal. Cavanagh has since overseen a restructuring of NBCUniversal’s operations and initiated a spin-off of numerous cable networks into a new entity called Versant.

In his own statement, Cavanagh expressed enthusiasm for his new role, stating, “Comcast is a special company with exceptional businesses and an incredible team. It is an honor to work with Brian and the entire Comcast NBCUniversal leadership team during this exciting and transformative time in our industry.”

Comcast’s shares were flat in premarket trading following the announcement, having faced challenges in subscriber growth amid increased competition from streaming services. The company reported a loss of 226,000 broadband customers in July, emphasizing the need for strategic changes.

Cavanagh’s promotion comes as the media landscape continues to shift, with companies like Netflix successfully adopting co-CEO structures. Netflix’s Greg Peters and Ted Sarandos have led the company since 2023, showcasing the potential of shared leadership in the complex media environment.

Comcast plans to report its next quarterly earnings on October 30, a crucial moment for the company as it navigates the evolving entertainment industry.