Comcast Appoints Michael Cavanagh As Senior Executive Vice President, CFO

(RTTNews) - Comcast Corp. (CMCSK, CMCSA) Monday named Michael Cavanagh Senior Executive Vice President and Chief Financial Officer of the company. He will join Comcast early this summer from The Carlyle Group, a global alternative asset manager.

At Carlyle, Cavanagh served as its Co-President and Co-Chief Operating Officer in New York. Prior to Carlyle, Cavanagh spent almost 10 years as a member of the Operating Committee of JPMorgan Chase & Co. and served nearly six years as its CFO. He will be based at Comcast's headquarters in Philadelphia.

The company had previously announced that it entered into an agreement with Vice Chairman and current CFO Michael Angelakis to establish a new, strategic company that would focus on investing in and operating growth-oriented companies, both domestically and internationally.

Angelakis will become a Senior Advisor to Comcast and will assist Cavanagh with his transition. He will then become CEO of the new company.