Jeremy Darroch has stepped back from the day-to-day running of Sky following 13 years as chief executive after Comcast moved Dana Strong, a former Virgin Media executive, to the top job.
Mr Darroch will become executive chairman of the British pay-TV and broadband provider, having led the company during a successful era that culminated in its £30.6bn sale to Comcast.
Ms Strong was previously chief operating officer of Sky’s UK rival Virgin Media and was tipped to lead the business before she was poached by Comcast in early 2018 to run consumer services for its US cable division.
Comcast took over Sky later that year after outbidding the company’s largest shareholder 21st Century Fox, which was in the process of being sold to Disney.
Mr Darroch, a Procter & Gamble veteran who joined Sky in 2004 as chief financial officer before replacing James Murdoch as chief executive, opted to stay with the media company to plot a new era of growth under Comcast.
Brian Roberts, chairman and chief executive of Comcast, praised Mr Darroch for presiding over a “seamless integration” with the US company.
“Jeremy has been a terrific colleague to me and everyone at Sky, but I respect his decision and I am pleased that he’s agreed to stay on to help with the transition and advise the company,” he said.
Mr Darroch said: “It has been a privilege to lead Sky for 13 years, and an experience that I have looked forward to every day, so my decision to leave has not been easy. But with the business firmly settled into the wider Comcast Corporation and a strong plan in place, now is the right time.”
Comcast said that its US cable division had achieved record subscriber and broadband growth and its highest levels of customer satisfaction since Ms Strong took over.