Comcast In No Hurry To Name New NBCUniversal CEO

Comcast Corp. President Mike Cavanagh will oversee NBCUniversal for the foreseeable future after the departure of NBCUniversal CEO Jeff Shell earlier this week left a gap at one of the media conglomerate's top leadership positions.

The Philadelphia Business Journal reports executives at Philadelphia-based Comcast shed some light for the first time publicly on what transition plans will look like at the top of its media business on the company's first quarter earnings call with analysts Thursday morning. Cavanagh, who was named Comcast Corp.'s president in October, will remain in the position while also stepping in to oversee NBCUniversal.

Matt Cavanaugh

When asked if his role as both president of Comcast Corp. and head of NBCUniversal was a permanent solution, Cavanagh said "think of me as being here for awhile" and said the current setup is "quite sustainable."

"I would put no timetable at all, no time pressure to do anything other than make sure the business is hum, which that's what we're doing right now and that's what I see continuing," Cavanagh said. "And maybe someday we'll think there's a better way to approach it."

Comcast CEO Brian Roberts said on the call that Shell's departure, which followed an investigation into allegations of an inappropriate relationship with CNBC anchor Hadley Gamble, is "obviously a tough moment."

Cavanagh reiterated the experience at the top levels of NBCUniversal and how his preexisting role kept him close to all of Comcast's businesses as keys to the transition.

"As president I was already overseeing all of this and close to the people that run the NBC businesses and the cable businesses and the corporate areas," Cavanagh said. "I think what's really important to understand is that we've got high-quality operators and leaders in all of the seats around the company: Philadelphia, LA, New York, Orlando and so forth."

Cavanagh started as CFO at Comcast in 2015 and was named president in October, the third in Comcast's history and the first outside of the Roberts family.