Jeff Shell out as NBCUniversal CEO after probe into inappropriate relationship By Reuters

By Mrinmay Dey and Daybreak Chmielewski

(Reuters) – NBCUniversal Chief Govt Jeff Shell (LON:) is leaving after acknowledging an inappropriate relationship with a girl within the firm, following a criticism that prompted an investigation, mum or dad firm Comcast Corp (NASDAQ:) stated on Sunday.

“I had an inappropriate relationship with a girl within the firm, which I deeply remorse,” Shell stated in a press release.

“I am actually sorry I let my Comcast and NBCUniversal colleagues down.”

Shell, who had been with Comcast for about twenty years, leaves instantly. He didn’t reply to a request for remark.

The previous chairman of NBCUniversal Movie and Leisure took over as CEO in 2020, changing Steve Burke. He oversaw the media firm’s broad portfolio of companies, together with the Common movie studio and tv enterprise, the Peacock streaming service and Common’s theme parks.

Comcast didn’t instantly title a successor.

At a time when rival studios have been investing closely in streaming in a race so as to add subscribers, Shell adopted a extra conservative method.

Peacock, conceived beneath his predecessor, would protect the acquainted tv enterprise mannequin – which depends on promoting – as an alternative of relying solely on subscription income. The subscription method has been embraced by Netflix Inc (NASDAQ:). , which lengthy prevented commercials.

Peacock has made positive factors, although it’s smaller than rival companies. It surpassed 20 million subscribers within the fourth quarter of 2022, because of the FIFA World Cup and the addition of NBC exhibits. The division’s losses additionally deepened from a 12 months earlier.

That’s one problem Shell’s successor will confront, together with the decline of the standard tv enterprise.

Shell’s senior workforce will now report on to Comcast President Mike Cavanagh, Comcast stated in a company-wide electronic mail that was made obtainable to Reuters.

“When our ideas and insurance policies are violated, we are going to all the time transfer shortly to take acceptable motion, as we now have carried out right here,” Cavanagh and Comcast CEO Brian Roberts stated within the electronic mail.

Comcast stated the investigation into the criticism towards Shell was led by exterior counsel. It didn’t present different particulars.

In 2020, NBCUniversal Vice Chairman Ron Meyer left the corporate after disclosing a settlement with a girl with whom he had a consensual affair years in the past.

Shell joins different high-profile executives who’ve misplaced their jobs in recent times over accusations of improper conduct or sexual harassment.

In 2019, Warner Bros Chairman and Chief Govt Kevin Tsujihara resigned as one in all Hollywood’s strongest studios investigated a report that he improperly helped an actress receive roles on the studio.

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