NBCUniversal CEO Jeff Shell is stepping down after admitting to inappropriate contact with a female employee, prompting an investigation, according to parent firm Comcast Corp (CMCSA.O).
“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 has worked with Comcast for nearly two decades, is leaving immediately. He did not respond to an interview request.
In 2020, the previous chairman of NBCUniversal Film and Entertainment took over as CEO, succeeding Steve Burke. He was in charge of the media company’s diverse portfolio of operations, which included the Universal film and television studios, the Peacock streaming service, and Universal’s entertainment parks.
Comcast did not designate a replacement right away
Shell took a more prudent approach to streaming at a time when competing studios were investing aggressively in the drive to add subscribers.
Peacock, as planned by his predecessor, would maintain the current television business model, which relies on advertising, rather than relying solely on subscription money. Netflix Inc. (NFLX.O), which has historically shunned ads, has embraced the subscription model.
Peacock has made gains, however, they are smaller than those of competitors. Thanks to the FIFA World Cup and the inclusion of NBC programming, it topped 20 million subscribers in the fourth quarter of 2022. The division’s losses also increased from the previous year.
That is one of the challenges that Shell’s successor will face, along with the demise of the traditional television industry. Shell’s leadership team will now report directly to Comcast President Mike Cavanagh, according to a company-wide email obtained by 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 stated that the inquiry of the Shell complaint was led by outside attorneys. Other information was not provided. NBCUniversal Vice Chairman Ron Meyer left the firm in 2020 after reporting a settlement with a lady he had a consensual affair with years before.
Shell joins the ranks of other high-profile CEOs who have lost their jobs in recent years due to allegations of inappropriate behavior or sexual harassment. In 2019, Warner Bros. Chairman and CEO Kevin Tsujihara resigned as one of Hollywood’s most influential studios investigated allegations that he unlawfully assisted an actress in obtaining roles at the studio. (Provigil)
