Jeff Shell: Former NBC Universal boss forfeits $43 million payment amid Hadley Gamble scandal
LOS ANGELES, CALIFORNIA: Former CEO of NBC Universal, Jeff Shell has to let go a huge sum of his payday after being fired on disciplinary grounds. During an internal investigation, he was found guilty in a sexual harassment complaint from CNBC anchor Hadley Gamble. On Friday, April 28, parent company Comcast announced the latest development regarding Shell’s ouster.
The filing said, “Shell forfeited vested and unvested stock options with an “estimated fair value of $43.3 million as of the termination date.” It added, “He will receive only his accrued but unpaid base salary and vacation time, vested employee benefits, and reimbursement for any unreimbursed business expenses in accordance with his employment agreement.” The filing also shared the compensation Shell received in 2022, earning just over $21 million in overall pay last year.
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NBCUniversal CEO Jeff Shell fired after CNBC anchor Hadley Gamble accuses him of sexual harassment
NBCUniversal CEO Jeff Shell calls it quits after admitting 'inappropriate relationship' with woman
'Comcast gave detailed account on payment to Shell'
Revealing the breakdown, the company mentions a sum that included a base salary of $2.5 million, stock awards totaling $6.6 million, option awards totaling about $4.2 million, and $7.5 million from a non-equity executive compensation plan based on the organization’s performance. Shell also made about $215,000 in other compensation, comprising personal use of company-owned private planes. The 57-year-old was kicked out after the investigation “led by outside counsel into a complaint of inappropriate conduct,” reports New York Post.
'Obviously a tough moment'
Shell admitted to having “an inappropriate relationship with a woman in the company.” Though Comcast did not name the employee who filed the complaint, Hadley Gamble’s attorney, Suzanne McKie later disclosed the identity. “The investigation into Mr Shell arose from a complaint by my client of sexual harassment and sex discrimination. Given these circumstances, it is very disappointing that my client’s name has been released and her privacy violated,” McKie, who is a managing partner of the United Kingdom-based firm Farore Law, said in a statement.
Comcast CEO Brian Roberts reacted to Shell’s firing, “Let me just acknowledge the news that you all saw earlier this week — obviously a tough moment. But we are so fortunate to have a fabulous and tenured leadership team at NBCUniversal.”
