Comcast unveiled eight new members of the first board of directors of Versant Media Group, which will house the bulk of NBCUniversal’s cable networks and certain digital businesses, including Versant CEO Mark Lazarus.
Versant will become a publicly traded media company, separated from Comcast, in a spin-off expected to be completed by the end of 2025. The new company will be comprised of USA Network, CNBC, MSNBC, Oxygen, E!, Syfy and Golf Channel, along with complementary digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine. (Bravo is staying with NBCU.)
Comcast CEO Brian Roberts will own one-third of the voting interests in Versant (as he does in Comcast); however, Roberts will not serve on Versant board or management team. The Versant brands will reach over 65 million U.S. households and will generate about $7 billion in revenue annually, according to Comcast.
As previously announced, Versant’s chairman of the board is David Novak, a longstanding Comcast board member of and former CEO of Yum! Brands, the holding company of fast-food chains KFC, Pizza Hut and Taco Bell. Novak will resign from his current position on Comcast’s board at the time of the Versant spin-off.
Upon completion of the spin-off, Comcast intends to appoint the following individuals to the Versant board:
- Mark Lazarus, CEO of Versant: Previously was chairman of NBCUniversal Media Group, where he oversaw the company’s TV and streaming platforms, distribution and monetization. Prior to that, Lazarus served as chairman of NBCUniversal Television and Streaming as well as chairman of NBCUniversal Broadcast, Entertainment and Lifestyle Group, Sports and News.
- David Novak: Founder and CEO of David Novak Leadership, a “digital leadership development platform” that teaches “vital skills to transform people into better leaders.” He is the former CEO of Yum! Brands. Novak sits on the board of the Lift-a-Life Novak Family Foundation and previously served as chairman (and executive chairman) of the Yum! Brands board and a director on the JPMorgan Chase board.
- Rebecca Campbell, former chairman of international content and operations at the Walt Disney Co.: After spending over two decades at Disney and having served as a board member of BMI, Campbell serves as interim CEO and board member of Meow Wolf, a leading arts and entertainment company known for its immersive multimedia experiences and large-scale interactive art installations. Additionally, she is involved with Big Brothers Big Sisters of Greater Los Angeles, serving first as a board member and now as a trustee.
- Creighton Condon, of counsel at global law firm A&O Shearman: Previously served as Shearman & Sterling’s senior partner, European managing partner and global mergers and acquisitions practice group leader. Condon advises clients on M&A, divestitures and joint ventures and counsels boards of directors and special committees on governance matters, change-of-control transactions, shareholder activism and complex structural issues. He also serves as chairman of the board of One to World, a non-profit organization advancing international understanding in the Fulbright tradition.
- Michael Conway, former CEO of Starbucks North America: Prior to joining Starbucks, he worked at Johnson & Johnson, serving as worldwide president of McNeil Nutritional, and Campbell Soup Co., serving as VP for the adult simple meals division. For the past 10 years, Conway has served as a board director at McCormick.
- David Eun, former president of Samsung Electronics: Currently serves as a founding adviser to Kanza AI, a generative AI company focused on health, wellness and medicine. He is also co-founder of investment firm Alakai Group. Previously, Eun served as president and chief innovation officer of Samsung Electronics, where he founded Samsung NEXT, an innovation group focused on start-up investments, M&A and new business creation. He began his career at NBC and later held senior leadership roles at Google, YouTube and Time Warner. He serves on the board Howard Hughes Holdings.
- Gerald L. Hassell, former chairman and CEO of the Bank of New York Mellon: During his career at BNY, Hassell had direct management responsibility for the company’s broad range of banking and investment services businesses, including asset servicing and issuer, broker-dealer, treasury and clearing services, as well as operations and technology. He is a former director of Comcast and MetLife.
- Scott Mahoney, chairman and CEO of Peter Millar: Prior to acquiring golf apparel company Peter Millar in partnership with Sea Island Company, Mahoney worked at Polo Ralph Lauren. He is also on the board of directors of Fleet Feet, a running-inspired company founded in 1976.
- Maritza Montiel, former deputy CEO and vice chairman of Deloitte’s U.S. business: At the consulting company, Montiel’s client base ranged across various industries in both the commercial and federal sectors. Prior to her appointment as deputy CEO, she led the firm’s U.S. regions and was tasked with managing the design and implementation of Deloitte University, the firm’s leadership development center and the largest single investment in the firm’s history. For the past 10 years, Montiel has served on the board of McCormick. She is currently on the board of directors for Royal Caribbean Group and a former director of Comcast and APTAR.
- Len Potter, founder, president and chief investment officer of Wildcat Capital Management: He has also served as a founder and senior managing director of Vida Ventures, a biotech venture fund, since its inception. He has extensive experience as a board director and has served or continues to serve on a number of boards, including Hilton Grand Vacations, SLR Investment and SuRo Capital.
Novak said in a statement: “I am pleased to welcome this accomplished forward-looking team to our future board of directors. Their collective expertise and perspectives will strengthen our governance and support Versant’s future success.”
Lazarus commented: “The announcement of the future board marks a critical milestone as we define our long-term strategy and advance the value of our iconic media portfolio. I look forward to collaborating with this distinguished group as we establish a leading independent media company.”
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