Comcast deepens move to wireless, shuffles executives

A major reshuffling of executives at Comcast Corp. has led to the exit of Cathy Avgiris as cable division chief financial officer and the appointment of a leader for a new Comcast Mobile unit, fueling speculation that the company will soon be launching its own wireless service.

The executive changes were effective last week and announced as Comcast executives prepare 2017 budgets, a company spokeswoman said Tuesday.

Greg Butz, a veteran Comcast sales executive, was just appointed head of Comcast Mobile, reporting to cable division boss Neil Smit. Butz had run subscriber sales for internet, TV, and phone, and would be familiar with how Comcast could package new wireless service with its triple-play package.

Together, Comcast has more than 40 million TV and internet subscribers.

Signaling its seemingly inevitable entry into wireless, Comcast has alerted Verizon that it might piggyback on its spectrum with a new wireless service.

Comcast also could acquire its own wireless spectrum this year at an auction at the Federal Communications Commission.

Ars Technica, the online technology publication, reported Monday that Comcast submitted an application a few months ago to participate in the auction and is now one of 62 qualified bidders for spectrum, based on FCC data. Comcast did not comment.

"It's a high probability that they are getting into wireless," James Ratcliffe, telecom analyst with Buckingham Research Group, said Tuesday. "And they are looking to do it organically and not with an acquisition."

Ratcliffe said he expects a Comcast wireless product offering by late 2017 or earlier.

As for other executive changes, Avgiris - the daughter of a Greek carpenter and seamstress from Brooklyn, N.Y., who began her career in the Philadelphia area at a forklift manufacturer - has stepped down as chief financial officer at the cable division. She was promoted to the position in 2013.

Avgiris has taken a job as interim global risk officer for Comcast and is helping to co-chair its enterprise risk management committee. She also will consult in the cable division into 2017, the company said.

Steve Croney, formerly senior vice president of financial planning and analysis, has been promoted to cable division CFO.

John Schanz, the cable division's chief network officer and executive vice president, is now an adviser for Atairos, the investment firm launched this year by former Comcast chief financial officer Michael Angelakis.

Comcast has agreed to finance Atairos with $4 billion. Angelakis is running the fund through offices in New York and Bryn Mawr.

Schanz's duties have been divided between two executives, Tony G. Werner and Marcien Jenckes, the company said.

Werner is the president of technology and product.

Jenckes is the executive vice president for consumer services. Part of Schanz's responsibilities had been oversight of advanced advertising services. Jenckes will take this part of Schanz's portfolio.

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