Comcast Finalizes Co-CEO Deal, Extends Mike Cavanagh Through 2029
An SEC filing details a multiyear pact with performance-linked pay to underscore Comcast’s focus on leadership continuity.
Overview
- Cavanagh will become co-CEO with Brian Roberts on Jan. 1 under a contract that runs to Jan. 1, 2029.
- His base salary will be $2.75 million annually starting Jan. 2, 2026, and he will receive $35 million in performance-based stock awards.
- The filing disclosed Cavanagh’s 2024 pay: $2.5 million in salary, $13.63 million in stock awards, $4.38 million in options, $7.5 million in non-equity incentives, and $255,162 in other compensation.
- Roberts’ 2024 compensation included a $2.5 million salary, $17.9 million in stock awards, $5.75 million in options, $7.5 million in non-equity incentives, and $200,483 in other compensation.
- Cavanagh joined Comcast in 2015 and assumed oversight of NBCUniversal after Jeff Shell’s 2023 departure, with company statements framing the transition as a collaborative handoff.