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Comcast names Carlyle Group’s Michael Cavanagh CFO-Reuters

(Reuters) – Comcast Corp named Michael Cavanagh chief financial officer to replace Michael Angelakis, who moves on to head the cable operator’s new investment arm.

Cavanagh will join Comcast early this summer from private equity firm Carlyle Group LP, where he served as co-chief operating officer, Comcast said in a statement.

Comcast said in March that Angelakis will head its investment arm scheduled to start operations in 2015 or early 2016 with up to $4.1 billion to invest in growth-oriented companies.

Cavanagh, who has spent six years at JPMorgan Chase Co as CFO, will receive a base salary of $1.8 million for 2015 plus a cash bonus opportunity of 300 percent of his base salary, Comcast said in a regulatory filing.

Photo courtesy of Jerome Kundrotas/