NBCUniversal CEO stepping down over ‘inappropriate relationship’
Jeff Shell attends the 'Fast & Furious Presents: Hobbs & Shaw' film premiere in Los Angeles on July 13
By Ramishah Maruf and Oliver Darcy, CNN
NBCUniversal CEO Jeff Shell is leaving the company after an outside investigation “into a complaint of inappropriate conduct,” its parent company Comcast announced Sunday.
Shell will depart effective immediately in the wake of an investigation led by an outside counsel.
“Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in a statement. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down, they are the most talented people in the business and the opportunity to work with them the last 19 years has been a privilege.”
The brief statement did not specify who the woman was or include any other details about the investigation. Comcast and NBCUniversal did not respond to requests for comment.
The NBC staffer involved in the relationship filed a complaint in recent weeks, a person familiar with the matter said.
Shell carried out his normal duties while the company engaged an outside law firm to conduct an investigation, the person added.
There is no search underway for a successor to Shell, the person added. In the meantime, Comcast President Mike Cavanagh will assume Shell’s duties.
Shell had been named CEO in January 2020 after leading content creation, programming and distribution for NBCUniversal Film and Entertainment.
Shell had expressed confidence in NBC’s streaming service, Peacock, which surpassed 20 million paid subscribers at the end of 2022 and “nearly tripled” its revenue to $2.1 billion, according to its fourth quarter earnings report, which ended at the end of 2022. Its adjusted earnings loss, however, was wider.
“There’s no question the whole television landscape is changing,” Shell said in an interview on CNBC “Squawk on the Street” last October. “If you have the right content, and you offer a broad distribution platform, your consumers are going to find you and that’s what we’re doing with Peacock.”
Comcast is set to report its first quarter earnings on Thursday.
The-CNN-Wire
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