Comcast Mike Cavanag names as a participant alongside Brian Roberts

Pom It was announced on Monday that Mike Cavanag was called as a participant alongside the leader, Brian Roberts, Starting in January.

Kavanagh, who is currently the president, will also be appointed to the Kumkast Board of Directors at the time. Roberts will remain president and participant of the company.

“Since joining Kumkast a decade ago, Mike himself has proven to be a reliable and cooperative leader,” Roberts said in a statement. “He is the perfect person to help lead COMCAST where we manage the axis we achieve to push growth throughout the company. Mike and I work smoothly together, and I am pleased to be a partnership with him as CO-COO and with the rest of our gifted management team, for years to come.”

Cavanag has previously worked as Cable Giant’s financial manager, who consists of a wide -ranging company, cable and mobile television as well as NBCunives. Before poms, Cavanag was a participant in JPMorgan’s Corporate and Investment Bank.

“Comcast is a private company with exceptional business and an incredible team. It is a great honor to work with Brian and the entire Commast NBCunivesal team during this exciting time and shift in our industry,” Cavanag said in a statement.

COMCAST shares were mainly flat in early trading on Monday after the announcement. The stock has decreased about 15 % so far this year. During the Cavanag state as president, from October 2022 to today, COMCAST shares have gained about 9 %.

Cavanag has always been considered a heir to Roberts by those familiar with the industry, CNBC I mentioned this year.

In 2022, he was promoted to the COMCAST president and after months of his role expanded when Jeff Shell came out of his role as CEO of NBCUNIVERSAL. Cavanag assumed direct driving of the company’s TV units, movies and parks in the company, although he has not been officially appointed to NBCuniversal.

Since then, it has been included in NBCunivesal and supervised a number of changes in the department, including restructuring, most notably NBCUNIVERSAL of its cable network networks, including CNBC, MSNBC and the golf channel.

The new company’s leadership structure reflects this company NetflixThe fleeing leader in the broadcast.

Netflix disruption in the media field helped convert industry into a A new crop of financial leaders and operations At the top of the entertainment companies.

Discovery Warner Bruce He said earlier this year that it would be divided into two companies – Warner Bros. , It consists of the broadcasting and studios platform, Discovery Global, TV networks. Gunnar Wiedenfels, Finance Director of Warner Bros. is scheduled to be. Discovery He takes over the position of CEO From Discovery Global after division.

Meanwhile, Komca has faced many opposite winds in recent years.

The pressure increased on the wide period after a period of Gangbuster’s growth due to increased competition from the two alternative service providers, such as 5G or the so -called fixed wireless. On the other hand, Komca and its peers suffered a slowdown in the growth of subscribers.

In July, Komca recorded a loss of 226,000 from the total domestic broadcast customers for the second quarter despite the shift in the market strategy earlier this year, which included new prices.

Comcast is scheduled to report its next quarterly profits on October 30.

Detection: Comcast is the mother company of NBCunivesal, which owns CNBC. Versant will become the new CNBC’s mother company on Spinoff of COMCAST from Versant.