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Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship

Published 04/23/2023, 03:15 PM
Updated 04/24/2023, 11:36 AM
© Reuters. FILE PHOTO: Jeff Shell, CEO of NBCUniversal, speaks during a conference at the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022.    REUTERS/Eric Gaillard

© Reuters. FILE PHOTO: Jeff Shell, CEO of NBCUniversal, speaks during a conference at the Cannes Lions International Festival of Creativity in Cannes, France, June 22, 2022. REUTERS/Eric Gaillard

By Mrinmay Dey and Dawn Chmielewski

(Reuters) - NBCUniversal Chief Executive Jeff Shell (LON:RDSa) is leaving after acknowledging an inappropriate relationship with a woman in the company, following a complaint that prompted an investigation, parent company Comcast Corp (NASDAQ:CMCSA) said on Sunday.

"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."

Shell, who had been with Comcast for about two decades, leaves immediately. He did not respond to a request for comment.

The former chairman of NBCUniversal Film and Entertainment took over as CEO in 2020, replacing Steve Burke. He oversaw the media company's broad portfolio of businesses, including the Universal film studio and television business, the Peacock streaming service and Universal's theme parks.

Comcast did not immediately name a successor.

At a time when rival studios were investing heavily in streaming in a race to add subscribers, Shell adopted a more conservative approach.

Peacock, conceived under his predecessor, would preserve the familiar television business model - which relies on advertising - instead of relying exclusively on subscription revenue. The subscription approach has been embraced by Netflix Inc (NASDAQ:NFLX). , which long avoided commercials.

Peacock has made gains, though it is smaller than rival services. It surpassed 20 million subscribers in the fourth quarter of 2022, thanks to the FIFA World Cup and the addition of NBC shows. The division's losses also deepened from a year earlier.

That is one challenge Shell's successor will confront, along with the decline of the traditional television business.

Shell’s senior team will now report directly to Comcast President Mike Cavanagh, Comcast said in a company-wide email that was made available to Reuters.

"When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here," Cavanagh and Comcast CEO Brian Roberts said in the email.

Comcast said the investigation into the complaint against Shell was led by outside counsel. It did not provide other details.

In 2020, NBCUniversal Vice Chairman Ron Meyer left the company after disclosing a settlement with a woman with whom he had a consensual affair years ago.

© Reuters. FILE PHOTO: CEO of NBCUniversal Jeff Shell attends the annual Allen and Co. Sun Valley Media Conference in Sun Valley, Idaho, U.S., July 6, 2022. REUTERS/Brendan McDermid

Shell joins other high-profile executives who have lost their jobs in recent years over accusations of improper conduct or sexual harassment.

In 2019, Warner Bros Chairman and Chief Executive Kevin Tsujihara resigned as one of Hollywood's most powerful studios investigated a report that he improperly helped an actress obtain roles at the studio.

Latest comments

Another EOE that had to be more diverse
They same woke people pointing fingers.
options trader≥ just another bigot pointing fingers
Case and point with Ac reply, coming to the defense of the immoral.
Was he also connected with Epstein?
Looks like he's heading to pity city.
It's time to take on Pedo island too...
Yeah iwonder if the “guickly tp take appropriate action” recended his millions in stock options, golden parachute, etc?Of course not and no one will raise the question, no real consequences.
Another liberal down... who cares?
he no liberal....
If he is doing a good job as CEO, who cares! Half of politicians would need to resign if they had the same rules.
He wasn't. Peacock stream has been a drag.
The Woke NBC would have probably kept him if his relationship was with another man.
Hahahaa.
or an acronym
I gotta say that the media has some real dedicated ideologues. Mr. Shell jumped on the sword for the network…for behavior that is fairly common within the media business. His departure effectively moves the media’s focus on him, the aggressor, and away from the network, the enabler. Women have, for over 50 years, been taking their space back from “chads” like Shell. More power to them, I say! Having a women in the household who makes as much or more than the man is a great combination in a childless marriage. Children complicate things…and are damned expensive.
…moves the media’s focus on to him, the aggressor, and away from the network, his enabler.
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