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

By Mrinmay Dey and Dawn Chmielewski

(Reuters) – Parent company Comcast Corp. (NASDAQ:) said Sunday that NBC CEO Jeff Shell (Lawn) is leaving after admitting to an inappropriate relationship with a woman at the company, following a complaint that prompted an investigation.

“I had an inappropriate relationship with a woman in the company, and I am deeply sorry,” Shell said in a statement.

“I’m really sorry I let my colleagues at Comcast and NBCUniversal down.”

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

The former head of NBCUniversal Film and Entertainment took over as CEO in 2020, replacing Steve Burke. He oversaw a broad range of businesses for the media company, including the global film studio and television business, the Peacock streaming service and Universal 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 took a more conservative approach.

Innovated under its predecessor, Peacock will maintain the familiar television business model — which relies on advertising — rather than relying exclusively on subscription revenue. The subscription approach has been adopted by Netflix Inc (NASDAQ: ), which has long avoided commercials.

Peacock did make gains, though smaller than competing services. It surpassed 20 million subscribers in the fourth quarter of 2022, thanks to the FIFA World Cup and the addition of NBC’s offerings. The division’s losses also deepened from the previous year.

This is one of the challenges Shell’s successor will face, along with the decline of the traditional TV business.

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

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

Comcast said the investigation into the complaint against Shell was led by outside attorneys. No other details were provided.

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

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

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