8-KLeadership Changes

COMCAST CORP 8-K Report, Executive Changes (Feb 23, 2017)

Filed February 23, 2017For Securities:CMCSACCZ

Summary

Comcast Corporation (CMCSA) has filed an 8-K report detailing changes to its Board of Directors. Eduardo G. Mestre will not seek reelection at the upcoming 2017 annual meeting, citing a desire to pursue other professional commitments. Mr. Mestre will continue to serve out his current term, including his roles on the Audit and Finance Committees. In related news, Asuka Nakahara has been appointed to the Board, effective February 24, 2017, and has been deemed independent. Mr. Nakahara brings experience from Triton Atlantic Partners and academic roles. Additionally, David C. Novak, who was previously appointed to the Board, has now been assigned to the Compensation Committee, also effective February 24, 2017. Investors should note these changes as they may impact board oversight and committee compositions.

Key Highlights

  • 1Eduardo G. Mestre, a Director and member of the Audit and Finance Committees, will not stand for reelection at the 2017 annual meeting.
  • 2Mr. Mestre's departure is due to pursuing other professional commitments.
  • 3Asuka Nakahara has been appointed to the Board of Directors, effective February 24, 2017.
  • 4Mr. Nakahara has been determined to be independent according to NASDAQ and company guidelines.
  • 5David C. Novak has been appointed to the Compensation Committee of the Board, effective February 24, 2017.
  • 6Mr. Nakahara's compensation will follow the standard Non-Employee Director Compensation Plan.
  • 7These changes update the composition and committee assignments of Comcast's Board of Directors.

Frequently Asked Questions

Eduardo G. Mestre has decided not to stand for reelection to the Board in order to pursue other professional commitments. He will continue to serve as a director until his current term concludes at Comcast's 2017 annual meeting of shareholders.

Asuka Nakahara has been appointed to the Board of Directors, effective February 24, 2017. He is considered independent and has been a partner at Triton Atlantic Partners, a real estate advisory firm, since 2009. He also holds academic positions and serves on other investment funds.

David C. Novak, who was previously appointed to the Board, has now been appointed to the Compensation Committee of the Board, effective February 24, 2017.

Mr. Nakahara will receive compensation in accordance with Comcast’s 2002 Non-Employee Director Compensation Plan, as previously detailed in the company's proxy statement filed on April 8, 2016.