BREAKING NEWS: NBCUniversal CEO Jeff Shell is ousted after admitting to an ‘inappropriate relationship’ with a woman at the company
- NBCUniversal CEO Jeff Shell has been ousted from his role after he admitted to having an ‘inappropriate relationship’ with a woman at the company
- Shell is married to Laura, who previously worked for Los Angeles County Supervisor Zev Yaroslavsky: the other woman has not been named
- Shell in a statement apologized for letting his colleagues down: His subordinates will now report to Comcast President Mike Cavanagh
NBCUniversal CEO Jeff Shell has been ousted from his role after he admitted to having an ‘inappropriate relationship’ with a woman at the company, Comcast announced on Sunday.
Comcast has said it made the decision to remove Shell, who earned $21.6 million a year, following an investigation into his conduct by outside counsel.
A company-wide email said Shell’s team will now report to Comcast President Mike Cavanagh, CNBC reports.
The relationship was exposed during an investigation by an outside counsel to investigate a complaint against Shell.
Shell is married to Laura Fay Shell, who previously worked for Los Angeles County Supervisor Zev Yaroslavsky.
In a statement, Shell said: ‘Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret.
‘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.’
NBCUniversal CEO Jeff Shell (pictured in June) has been ousted from his role after he admitted to having an ‘inappropriate relationship’ with a woman at the company
Shell is pictured with his wife Laura at the Emmy Awards in September 2022
Shell is seen in July at the Sun Valley conference in Idaho. He became CEO in January 2020
Cavanagh and Comcast CEO Brian Roberts said in their own joint statement: ‘We are disappointed to share this news with you.
‘We built this company on a culture of integrity. Nothing is more important than how we treat each other. You should count on your leaders to create a safe and respectful workplace.
‘When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here.’
A replacement for Shell has not yet been named.
His departure comes at a critical time for NBCUniversal and Comcast.
Their streaming service, Peacock, launched in April 2020 and has made progress, but is still much smaller than services backed by industry rivals.
In the fourth quarter, Peacock surpassed 20 million paid subscribers but lost nearly $1 billion on an adjusted basis, the company said.
Mike Cavanagh, who was appointed president of Comcast in October, will now take over Shell’s team
NBC’s logo is pictured at Universal Studios in Florida. Shell oversaw the theme parks as part of his role
Shell has been at Comcast for over 20 years, having joined the company from Fox.
He ran international operations out of London from 2011 to 2013 before moving to serve as chairman of NBCUniversal Film and Entertainment.
He took over as CEO in January 2020, and was responsible for overseeing a sprawling portfolio that ran from news and entertainment TV networks, to the film studio, theme parks and other divisions.
As NBCUniversal CEO, Shell was also charged with moving the company more heavily into streaming.
Shell is the second senior executive to be forced out of NBCUniversal in recent years.
In April 2020, NBCUniversal said it had parted with vice president, Ron Meyer, after he failed to properly disclose he had paid a settlement to a woman with whom he had a consensual affair several years earlier.
Shell said at that time that Meyer ‘acted in a manner which we believe isn’t consistent with our company policies or values.’