Yum Brands Co-Founder David Novak Named Chairman of Comcast’s SpinCo

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As a cinephile with an eye for business, I’ve found myself in an interesting position: David Novak, one-half of the duo who built the fast-food empire encompassing KFC, Pizza Hut, and Taco Bell, has been appointed chairman in the new company that will emerge following Comcast’s decision to separate the vast cable network holdings of NBCUniversal.

Comcast is thrilled that SpinCo will benefit from David Novak’s leadership, as he steps into the role of Chairman. Brian L. Roberts, Chairman and CEO of Comcast Corporation, made this announcement in a statement. David’s impressive history of fostering growth and creating value at public companies makes him the perfect choice to build and guide an exceptional board. Over his time with Comcast, David has proven to be an indispensable member of our board and is widely respected as an outstanding CEO. I am certain that he will collaborate effectively with Mark Lazarus to provide the new company with a significant edge from its very first day.

In 2025, Novak will step into his new position following the spin-off, and he’ll no longer be a member of Comcast’s board of directors, where he’s served since December 2016.

Novak expressed that this is an exceptional chance to collaborate with SpinCo’s remarkable collection of assets, joining forces with top-tier professionals in an industry continually advancing. He is eager to partner closely with Mark and the rest of the management team to establish a prominent, contemporary media company that operates independently.

The independent entity resulting from the public offering will encompass cable channels such as MSNBC, USA, and CNBC, alongside several digital platforms. It’s anticipated that these assets will yield approximately $7 billion annually in income.

More to come

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2025-03-19 20:18