Comcast said Monday it will appoint President Michael Cavanagh as co-CEO, adopting a dual chief executive model as the company prepares to spin off several NBCUniversal cable networks as part of a restructuring.

Cavanagh will take up the new role in January and also join the company’s board, serving alongside Brian Roberts, who will continue as chairman and co-CEO.

Several high-profile firms such as Oracle and Netflix have adopted a co-CEO model to better manage their operations as they become more complex and globally diversified.

Comcast President Michael Cavanagh will take up the new role in January and also join the company’s board. REUTERS

Comcast plans to spin off its NBCUniversal cable channels, including USA Network and CNBC, into a new company called Versant later th

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