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In a significant development at Comcast, one of the world’s largest entertainment companies, Mike Cavanagh has been named co-CEO, joining Brian Roberts at the helm of the media giant. Cavanagh, who previously served as the company’s president, effectively oversaw NBCUniversal, with all executives reporting to him. He initially joined Comcast as CFO in 2015.

Cavanagh’s promotion will take effect on January 1, when he will also join the Comcast board of directors. Roberts will continue in his roles as chairman and co-CEO. Roberts expressed confidence in Cavanagh, highlighting his leadership qualities and collaborative approach in steering Comcast through a period of growth and transformation.

Expressing his enthusiasm for the new role, Cavanagh praised Comcast as a remarkable company with exceptional businesses and a talented team. The move is notable given Comcast’s family-controlled structure, established by Brian Roberts’ father over six decades ago. Brian Roberts succeeded his father as company head in 1990, with his son Tucker Roberts also part of Comcast’s Spectator division.

While the appointment of Cavanagh as co-CEO is uncommon in family-controlled firms, it reflects a trend where professional CEOs are entrusted with day-to-day operations. Similar structures have been seen at companies like Paramount and News Corp. The co-CEO model, though unusual, is not unprecedented, as demonstrated by Netflix’s leadership under two CEOs.

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