Overview

• Cavanagh, currently president and a former Comcast CFO, will join the board when his co-CEO role begins in January.
• Brian Roberts will remain chairman and co-CEO of the company.
• The move comes as Comcast reshapes its portfolio, planning to spin off most NBCUniversal cable networks into Versant to emphasize broadband, streaming, studios and theme parks.
• An internal memo last week cut a layer of management and closed divisional offices in Denver, Atlanta and Manchester, N.H., with 13 regions now reporting directly to headquarters.
• Co-CEO structures are uncommon but not unprecedented, and Cavanagh has been overseeing NBCUniversal operations and leading the Versant spin-off planning.