David Novak to Lead SpinCo Board of Directors as Chairman

Comcast has appointed Yum! Brands co-founder and former CEO David Novak to lead SpinCo’s board of directors as chairman.

Novak, who brings nearly 40 years of experience leading and growing well-known consumer brands, will formally assume the role upon the cable network portfolio’s spinoff by the end of 2025. He will vacate his current position on Comcast’s board of directors, which he has held since December 2016.

In addition to currently serving on Comcast’s board, Novak sits on the board of the Lift-a-Life Novak Family Foundation and is the founder and CEO of David Novak Leadership, a digital platform that teaches people skills to transform themselves into better leaders. 

He served as CEO of Yum! Brands from 2000 to 2014, helping transform one of the world’s largest restaurant companies into a global powerhouse of leading brands after it was spun out from PepsiCo in 1997. He also served as its board chairman from 2001 to 2014 and executive chairman from 2015 to 2016. Additionally, he was a director of JPMorgan Chase’s board from 2001 to 2012.

“It’s an honor to be appointed Chair of SpinCo’s board during this dynamic time in the media industry,” Novak said in a statement. “This is a unique opportunity to build around SpinCo’s incredible portfolio of assets alongside some of the top talent in this ever-evolving industry. I look forward to working closely with Mark and the rest of the leadership team to create the leading independent, modern media company.”  

Upon completion, SpinCo will house USA Network, CNBC, MSNBC, Oxygen, E!, SYFY and Golf Channel, as well as complementary digital assets Fandango, Rotten Tomatoes, GolfNow and SportsEngine. The publicly traded entity, whose assets generate approximately $7 billion in annual revenue, will reach over 65 million U.S. households.

“As Comcast separates this business, we’re excited that SpinCo will have the talent and success of David Novak as its new Chairman,” Comcast chairman Brian Roberts said in a statement. “With David’s track record of driving growth and value creation at public companies, he is the ideal person to assemble and lead a world-class board. David has been an invaluable member of Comcast’s board and widely recognized as a top CEO — I’m confident that he will work with Mark Lazarus to give the new company a distinct advantage from day one.”  

“David is highly regarded as a strategic leader with a unique skillset and decades of experience overseeing portfolios of brands and executing the successful spin-off of Yum! Brands from PepsiCo,” SpinCo CEO Mark Lazarus added. “We look forward to working closely with David as we develop SpinCo’s long-term strategy to maximize the value and potential of our iconic media assets.”  

In addition to Lazarus, the SpinCo leadership team includes Anand Kini as chief financial and operating officer, Val Boreland as president of entertainment, Keith Cocozza as chief communications officer, Brian Dorfler as chief human resources officer, Jeff Mayzurk as president of operations and technology, Kristin Newkirk as TV networks chief financial officer, David Pietrycha as chief revenue and business officer and Greg Wright as chief accounting officer and controller.

SpinCo is currently scouting locations in Manhattan for a new corporate headquarters, which will also house some entertainment teams and MSNBC, including its New York studio space and a production facility. CNBC will remain in Englewood Cliffs, New Jersey, which will also serve as SpinCo’s technical operations hub. MSNBC and CNBC will also continue to operate its DC Bureau out of 400 North Capitol, where SpinCo is securing dedicated space.

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