Comcast Names Carlyle Group Exec Its New CFO

Michael Cavanagh will join the media conglomerate this summer when former CFO Michael Angelakis leaves to form an investment firm for Comcast.

Comcast has appointed as its new CFO Michael Cavanagh, who will retire as co-COO of the Carlyle Group, an asset management firm, to join the media conglomerate this summer.

Cavanagh will take over for Michael Angelakis, who will leave to establish a new investment company operated by Comcast. Angelakis will be CEO of the yet-to-be named entity, to which Comcast has committed $4 billion, with Angelakis and other executives adding an additional $100 million.

Angelakis will remain with Comcast proper in an advisory role and also help Cavanagh transition to CFO.

Prior to the Carlyle Group, Cavanagh was CFO of JPMorgan Chase. He's a board member at Yum! Brands and is a member of the Council on Foreign Relations.