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2d ago

Versant Names Full Board as It Nears Spin-Off Completion

The board will set strategic priorities, guiding governance as Versant gears up for its tax-free IPO by year-end.

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Small toy figures with laptops and smartphones are seen in front of displayed Comcast logo, in this illustration taken December 5, 2021. REUTERS/Dado Ruvic/Illustration/File photo

Overview

  • Versant announced its full nine‐member board of directors, marking the final governance structure ahead of its planned year-end spin-off from Comcast.
  • Former Yum! Brands CEO David Novak will chair the board and will resign his seat on Comcast’s board upon completion of the transaction.
  • Board members span media, tech, legal and finance and include CEO Mark Lazarus, Disney veteran Rebecca Campbell, counsel Creighton Condon, ex-Starbucks North America head Michael Conway, AI advisor David Eun, former BNY Mellon CEO Gerald Hassell, Peter Millar’s Scott Mahoney, Deloitte vice chair Maritza Montiel and investor Len Potter.
  • Versant will house cable networks such as MSNBC, CNBC and USA Network alongside digital assets like Fandango and Rotten Tomatoes, aiming to reach over 65 million U.S. households and generate $7 billion in annual revenue.
  • The company will leverage NBCUniversal’s two-year ad-sales deal and brand-driven digital strategies to drive growth as it positions for a late-2025 public offering structured to be tax-free for Comcast shareholders.