8-KLeadership Changes

COMCAST CORP 8-K Report, Executive Changes (Feb 15, 2017)

Filed February 15, 2017For Securities:CMCSACCZ

Summary

Comcast Corporation (CMCSA) filed an 8-K on February 15, 2017, to report a significant change in its accounting leadership. Lawrence J. Salva, the Executive Vice President and Chief Accounting Officer, announced his retirement from his role effective February 28, 2017, after more than 17 years with the company. This marks the end of an era for a long-standing executive. However, Mr. Salva will continue to support the company in a Senior Advisor capacity to the Chief Financial Officer until June 30, 2018, ensuring a smooth transition and knowledge transfer.

Key Highlights

  • 1Lawrence J. Salva, EVP and Chief Accounting Officer, is retiring effective February 28, 2017.
  • 2Mr. Salva has served Comcast for over 17 years.
  • 3He will transition to a Senior Advisor role to the CFO until June 30, 2018.
  • 4Daniel C. Murdock has been promoted to Senior Vice President and Chief Accounting Officer, effective March 1, 2017.
  • 5Mr. Murdock is 43 years old and previously served as VP and Corporate Controller since June 2015.
  • 6Mr. Murdock has a background with the SEC (Deputy Chief Accountant) and Deloitte & Touche.
  • 7Mr. Murdock's new employment agreement includes compensation generally aligned with similarly-situated senior vice presidents.

Frequently Asked Questions

The main reason for this 8-K filing is to announce the retirement of Comcast's Chief Accounting Officer, Lawrence J. Salva, and the subsequent promotion of Daniel C. Murdock to fill that role.

No, Mr. Salva will not be completely leaving Comcast. He will retire as Chief Accounting Officer but will continue with the company as a Senior Advisor to the Chief Financial Officer until June 30, 2018.

Daniel C. Murdock has been promoted to Senior Vice President and Chief Accounting Officer, effective March 1, 2017. He was previously the Company's Vice President and Corporate Controller.

Mr. Murdock has a strong background in accounting and regulatory oversight. He previously served as the Deputy Chief Accountant in the SEC's Office of the Chief Accountant and before that, he was a Director in Deloitte & Touche's professional practice for media and entertainment.