Madeline S. Bell
COMCASTAbout Madeline S. Bell
Madeline S. Bell, age 63, is President and CEO of The Children’s Hospital of Philadelphia (CHOP) and has served as an independent director of Comcast since February 2016. She began her career as a pediatric nurse, moved into hospital administration in 1989, and holds a Master of Science in Organizational Dynamics from the University of Pennsylvania. Her core credentials emphasize executive leadership of a large, complex nonprofit health system, enterprise risk management, and compliance.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| The Children’s Hospital of Philadelphia (CHOP) | President & CEO | 2015 – Present | Leads a top-ranked children’s hospital (~$4.7B FY2024 revenue; ~30,000 employees), focusing on strategy, partnerships, compliance, and human capital management |
| CHOP | Multiple leadership roles, including Chief Operating Officer | 1995 – 2015 | Oversight of operations and administration across a complex care and research enterprise |
| Nursing roles | Pediatric nurse; progression into administration | 1983 – 1989; Admin from 1989 | Clinical foundation and transition to management; MS in Organizational Dynamics (UPenn) |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Federal Reserve Bank of Philadelphia | Former Board Chair | Not disclosed | “Former Board Chair” noted in CMCSA proxy biography |
| Leonard Davis Institute of Health Economics | Board Member | Not disclosed | Nonprofit/academic network role |
| Solutions for Patient Safety | Board Member | Not disclosed | Patient safety collaborative |
| Greater Philadelphia Chamber of Commerce | Executive Committee Member | Not disclosed | Member, CEO Council for Growth |
No other current public company directorships are listed in Ms. Bell’s CMCSA director biography.
Board Governance
- Independence and tenure: Independent director; director since February 2016.
- Committee assignment (2024): Governance and Corporate Responsibility Committee (member). The committee met 5 times in 2024; chaired by Kenneth J. Bacon; members include Ms. Bell and Jeffrey A. Honickman.
- Board attendance and engagement: In 2024, the Board held 6 meetings and committees held 19 meetings; each director attended more than 75% of the aggregate Board and committee meetings on which they served. Each director then in office attended the 2024 annual meeting of shareholders (except Ms. Lucas, who had a pre-existing commitment prior to joining the Board). Executive sessions were held at each regularly scheduled Board meeting and most committee meetings.
- Board independence structure: All three standing committees (Audit, Compensation, Governance) composed entirely of independent directors; Lead Independent Director is Edward D. Breen.
- Overboarding policy: Governance guidelines limit independent directors to up to four public company boards (and public-company CEOs to no more than two additional public boards); the Governance Committee determined all nominees complied for 2025.
Fixed Compensation
| Director | 2024 Cash Fees ($) | 2024 Stock Awards ($) | 2024 Other Comp ($) | 2024 Total ($) |
|---|---|---|---|---|
| Madeline S. Bell | 135,000 | 225,010 | 4,817 | 364,827 |
- Program structure (2024): Annual cash retainer $120,000; annual equity grant FMV $225,000; committee chair fee $40,000; committee member fee $15,000. Directors may elect to receive retainer in stock and/or defer fees/stock. Courtesy services (Comcast connectivity at up to two residences) provided; “other compensation” reflects incremental cost of such courtesy services and guest travel.
Performance Compensation
- Equity form and vesting: The annual nonemployee director stock grant is fully vested upon grant and may be deferred in whole or in part; no performance-conditioned metrics are disclosed for director equity.
- Anti-hedging/pledging: Directors are prohibited from hedging and from holding or pledging Comcast stock in margin accounts.
| Performance Metric | Applied to Director Compensation? | Notes |
|---|---|---|
| Financial/operational/ESG metrics (e.g., revenue growth, TSR) | No | Nonemployee director equity is time-based, fully vested at grant; no performance metrics disclosed. |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None listed in CMCSA biography for Ms. Bell. |
| Private/nonprofit/academic | Leonard Davis Institute of Health Economics (Board Member); Solutions for Patient Safety (Board Member); Greater Philadelphia Chamber of Commerce Executive Committee and CEO Council for Growth; former Board Chair, Federal Reserve Bank of Philadelphia. |
| Potential interlocks | No overlapping public-company board interlocks disclosed for Ms. Bell in CMCSA materials. |
Expertise & Qualifications
- Executive leadership of a large, complex healthcare and research system; human capital management; enterprise risk management and compliance; customer-oriented/consumer perspective.
- Education: Master of Science in Organizational Dynamics, University of Pennsylvania; clinical foundation as pediatric nurse transitioning into administration.
Equity Ownership
| Item | Amount/Status |
|---|---|
| Class A shares beneficially owned | 60,884 shares; less than 1% of Class A. |
| Deferred shares included in beneficial ownership | 52,379 shares will be paid at a future date under deferred compensation plans (included in beneficial ownership). |
| Spousal/Joint holdings | Includes 2,200 shares held jointly with spouse and 400 shares held by spouse. |
| Hedging/pledging | Policy prohibits hedging and pledging; proxy states no director or executive officer shares are held in margin accounts or have been hedged or pledged. |
| Director ownership guideline | Nonemployee directors must hold shares equal to 5x annual cash retainer; all nonemployee directors satisfied the policy in 2024. |
Insider Filings
| Item | Status/Notes |
|---|---|
| Section 16(a) compliance (2024) | CMCSA states all required filings by directors and executive officers for 2024 were timely. |
Governance Assessment
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Strengths
- Independent status; long-tenured operator leading a complex healthcare enterprise brings risk oversight and compliance expertise to Comcast.
- Active Governance and Corporate Responsibility Committee member; committee met five times in 2024, covering compliance, privacy/AI/data governance, workplace conduct, and ESG oversight—key risk areas for CMCSA.
- Strong engagement signals: >75% attendance threshold met; attendance at annual meeting; executive sessions held regularly; all committees fully independent.
- Alignment and risk controls: Robust director ownership requirement (5x retainer) met; explicit prohibitions on hedging/pledging; no director or officer shares hedged/pledged.
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Potential considerations
- External time commitments appear manageable: CMCSA’s overboarding policy is observed, and Ms. Bell’s disclosed roles do not indicate public-company overboarding; she serves as a nonprofit CEO plus CMCSA directorship.
- No related-party transactions specifically involving Ms. Bell are disclosed; CMCSA outlines a formal review/approval policy for related-party dealings. This remains a monitoring point each proxy season.
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Shareholder sentiment context
- Say-on-pay support of 89% at the 2024 annual meeting indicates broad investor support for the compensation framework overseen by the Board’s committees.