Comcast Corporation to Establish New Strategic Company; Announces Management Changes
Mar 31 15
Comcast Corporation announced that it has entered into an agreement with the company's Vice Chairman and Chief Financial Officer, Michael J. Angelakis, to establish a new, strategic company that will focus on investing in and operating growth-oriented companies, both domestically and internationally. The new company will have total capital commitments of up to $4.1 billion, of which $4.0 billion will be invested by Comcast, at least $40 million will be invested personally by Mr. Angelakis, with the remainder coming from other senior members of the new company's management team. This new company will have an exclusive, 10-year partnership with Comcast as sole outside investor.
Mr. Angelakis will serve as the Chief Executive Officer of the new company and bring his strengths of investing in and operating companies, with benefits accruing to Comcast shareholders. He will lead this new company with a mandate and the resources to pursue new areas of growth and diversification for Comcast.
Comcast will immediately commence a search for a successor Chief Financial Officer, and following the appointment of the new CFO, Mr. Angelakis will then serve as a Senior Advisor to Comcast. Mr. Angelakis will assist with the transition to the new CFO and begin the integration process for the Time Warner Cable and related transactions.
Comcast Corporation Announces Promotions to Vice President
Mar 30 15
Comcast Corporation announced a series of promotions to Vice President in its Administration, Assurance and Advisory Team, Federal Government Affairs, Legal, and Strategic Intellectual Property departments. The following individuals have been promoted: Deborah Buhles has been promoted to Vice President, Administration, reporting to Karen Buchholz, Senior Vice President of Administration. In this position, Deborah is responsible for developing and managing programs for facilities for the Philadelphia campus, including operations and optimizing space planning, corporate travel and relocation. Before joining Comcast in 2003, Deborah served as corporate travel manager and manager of innovation for supply chain management for Capital One and as a purchasing agent for Computer Task Group. Catherine Grayand Anthony DeShan have been promoted to Vice President of Comcast Assurance and Advisory Team, reporting to Cynthia Hook, Senior Vice President, General Auditor and Global Risk Officer. Catherine is responsible for the design, execution and oversight of the Cable audit plan, which focuses on financial, operational and regulatory areas for the Cable business. Prior to joining Comcast in 2003, Catherine was a supervisor with KPMG, LLP and concentrated in providing financial assurance and consulting services to a variety of manufacturing, technology, and public sector clients. Anthony oversees the internal audit staff, risk management, and the performance of financial, operational, and compliance audits and advisory engagements for the NBCUniversal business. Prior to joining Comcast in 2010, Anthony worked at Dell Inc., serving in a variety of financial and operational roles including the Global Audit function as well as transformation initiatives within the company. Juan Otero has been promoted to Vice President of Federal Government Affairs, reporting to Melissa Maxfield, Senior Vice President, Federal Government Affairs. Juan is responsible for federal legislative advocacy, representing Comcast NBCUniversal with Members of Congress and the Administration. He is also responsible for developing strategies for achieving corporate legislative objectives and actively works with third-party policy stakeholders. Prior to joining Comcast, Juan served as a Committee Director for the National Governors Association in Washington, D.C. and as Deputy Director at the U.S. Department of Homeland Security (DHS), where he oversaw the Department's efforts to develop improved interoperability technologies and communications. Matthew Fradinand Derek Squire have been promoted to Vice President and Senior Deputy General Counsel, reporting to Marc Rockford, Vice President and Senior Deputy General Counsel. Matthew is responsible for legal matters related to strategic corporate transactions, including mergers, acquisitions, divestitures, joint ventures and debt financings. His transactional work has also included real estate transactions relating to the Comcast campus development in Philadelphia and strategic advertising initiatives. In addition, Matthew oversees the Legal Technology Operations function serving all Law Department personnel and chairs the enterprise-wide Legal Technology Committee. Prior to joining Comcast in 2002, Matthew served as an associate in the business and finance departments of Latham & Watkins and Ballad Spahr. In those positions, his responsibilities included mergers and acquisitions, financings and other corporate transactions. Derek is responsible for legal matters relating to acquisitions, divestitures, investments, joint ventures and other strategic corporate transactions. Derek also serves as General Counsel of Comcast Ventures, Comcast's venture capital arm, where he oversees all legal activities, including structuring and negotiating new investments and exit transactions, as well as working with management of Comcast Ventures portfolio companies on legal issues. Prior to joining Comcast in 2004, Derek was an associate at Drinker Biddle & Reath LLP in Philadelphia, PA, where his practice focused on mergers and acquisitions, venture capital and private equity transactions. Brian Rankin hasbeen promoted to Vice President and Senior Deputy General Counsel, reporting to Lynn Charytan, Senior Vice President of Legal Regulatory Affairs and Senior Deputy General Counsel. Brianis responsible for providing counsel for legal and regulatory matters affecting Comcast's cable, broadband, voice and other businesses. Prior to joining Comcast in 2005, Brian served in senior legal positions for XO Communications, Aerial Communications and MCI Communications where he worked on a wide array of legal and regulatory matters, including litigation before state public utility commissions. He is licensed to practice law in Pennsylvania and Illinois. Mark Dellinger has been promoted to Vice President, Strategic Intellectual Property, reporting to James Finnegan, Senior Vice President of Intellectual Property Strategy. Mark is responsible for patent transaction matters related to Comcast innovations and provides patent strategy support for mergers, acquisitions and corporate investments. Prior to joining Comcast in 2008, Mark served as Vice President at a boutique intellectual property consulting firm where he led its patent brokerage team and provided strategic advice to a diverse client base of Fortune 500 technology companies and global investment firms. Mark also held senior positions in intellectual property related to cross-licensing, technology transfers and business strategy at Lucent Technologies.