Jeff Shell resigned from his role as CEO of NBCUniversal on Sunday after admitting to an ‘inappropriate relationship’ with the company’s female parent comcast Announced.
“Today is my last day as CEO of NBCUniversal. It’s a pity, they are some of the most talented people in the world.” It has been a privilege to work with them for the past 19 years,” said Shell. statement.
Comcast hired outside counsel to launch an investigation after receiving the complaint. The complaint was filed by a woman who said Shell was in an “improper relationship,” according to a person familiar with the matter. The investigation lasted just over a month, one of the people said. Due to the sensitive nature of the development, they have refused to disclose their names.
On Monday, CNBC newscaster and international correspondent Hadley Gamble came forward as the woman who filed a complaint against Shell.
“The investigation into Mr. Shell stemmed from a complaint from my client about sexual harassment and sexism,” said Suzanne McKie of Fanore Law, a gambling attorney. It is very unfortunate that her name was made public and her privacy was violated.”
The Shell team will report to Comcast president Mike Cavanagh, according to the company’s email. The company has not conducted interviews or searched for a successor and has no immediate plans to do so, according to a person familiar with the matter. Shell and other executives at his NBCUniversal have already been reporting to Cavanagh for some time and he knows the business well, the person said.
“We are disappointed to share this news. We have built this company on a culture of integrity. Nothing is more important than how we treat each other. A Safe and Respectful Workplace. We should rely on our leaders to make sure that if our principles and policies are violated, we will always take swift and appropriate action, as we have done here,” said Cavanagh and Comcast’s CEO, Brian Roberts said in a separate statement on Sunday.
Roberts will also be more involved in the NBCUniversal business with Cavanagh, the person said.
The married Shell has taken over as CEO of NBCUniversal. January 2020He oversaw the company’s entertainment and news television networks, including its theme parks, Peacock streaming service, sports production operations, television station group, and NBC News.
Much of his time as CEO covid pandemicwhich forced much of the United States and the world to close for several weeks in his new position. was confused.
Steve Burke’s successor, Shell, spearheaded the mid-2020 launch of Peacock, NBCUniversal’s answer to the streaming wars. Peacock was formulated under his Burke, but the streaming service has grown, adding subscribers and content with Shell helming.
peacock loss It weighs heavily on NBCUniversal’s entire business. In the company’s final earnings call, Cavanagh said Peacock’s 2022 deficit was in line with earlier projections of $2.5 billion. Comcast says that in 2023 he expects Peacock’s losses to be up to about $3 billion. Comcast is expected to report earnings on Thursday. Comcast shares are up about 8% so far this year.
Just months after taking over as CEO, Shell restructured NBCUniversal’s business, dismantling its TV segment fiefdoms in an effort to bring streaming and traditional TV closer together.
As part of the restructuring, dismissal has taken place Less than 10% of the 35,000 full-time employees at the time were expected to be affected. All of NBCUniversal’s business segments have made headcount reductions.
NBC universal too Rated A portfolio of cable TV networks owned by Shell. In 2021, the company will shut down NBC Sports Network moved many of its sports programming to Peacock and the USA Network. Peacock is also the streaming home of the Olympics.
Around the same time, longtime NBCUniversal executive Ron Meyer I left the company After revealing he was under threats of blackmail because he made peace with a woman after an extramarital affair.
At the time, Shell notified employees of Mayer’s departure, saying, “Ron Mayer has informed NBCUniversal that he has acted in a manner that we believe is inconsistent with our policies and values.”
Shell has climbed the ranks of Comcast and NBCUniversal over the years.
One of his early roles was President of Comcast’s Programming Group, E!. . Prior to becoming CEO, he served as chairman of NBCUniversal Film and Entertainment.
Disclosure: Comcast owns NBCUniversal, the parent company of CNBC.
Correction: Comcast says it expects Peacock to lose up to about $3 billion in 2023.
