Comcast Names a Co-CEO. How the Stock Is Reacting.

Comcast said Monday that President Michael Cavanagh would serve as co-CEO alongside Brian Roberts. (Dreamstime)

Key Points

• Michael Cavanagh will become co-CEO of Comcast alongside Brian Roberts, effective January 2026.
• Cavanagh, who joined Comcast in 2015, currently serves as its president and frequently leads earnings calls.
• Comcast’s shares slipped 0.6% to $31.55 after the announcement, while the S&P 500 rose 0.4%.

Comcast said Monday that Michael Cavanagh would become its co-CEO alongside Brian Roberts, effective January 2026.

“He is the ideal person to help lead Comcast as we manage the pivot we are making to drive growth across the company,” Roberts, the NBCUniversal parent’s longtime CEO and chairman, said. “Mike and I work seamlessly together, and I am thrilled to be partnering with him as Co-CEO and with the rest of our talented management team, for years to come.”

Shares slipped 0.6% to $31.55 shortly after the opening bell. The S&P 500 was 0.4% higher.

Cavanagh joined Comcast in 2015 and currently serves as its president. He has tended to take the lead on Comcast’s earnings calls in recent quarters, laying out the company’s strategic priorities.

The leadership shake-up comes at a time of change for the telecommunications and media giant, which said last year that it would spin off most of its cable TV networks. Comcast expects to complete that transaction by the end of 2025.

Write to George Glover at george.glover@dowjones.com