NBCUniversal CEO Jeff Shell calls it quits after admitting 'inappropriate relationship' with woman
LOS ANGELES, CALIFORNIA: NBCUniversal CEO Jeff Shell is stepping down after admitting to "an inappropriate relationship" with a woman at the media conglomerate, parent firm Comcast announced on Sunday, April 23. The affair came to light during an examination by an outside attorney looking into a complaint against Shell.
Shell, 57, oversaw the entertainment division of the massive media company and left it struggling to compete with other streaming services, As per The Wall Street Journal, Peacock reportedly added more than 20 million subscribers in the fourth quarter but still lost close to $1 billion. Details of Shell's relationship with the employee and the woman's job details are yet to be known. The 57-year-old is the latest media executive to resign in the wake of a scandal. When a scandal involving former CNN anchor Chris Cuomo surfaced last year, Jeff Zucker, the news network's president, abruptly resigned after confessing a relationship with another executive.
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'I’m truly sorry'
BREAKING: NBCUniversal CEO Jeff Shell steps down following admission of "inappropriate relationship" with a woman at the company, says parent company Comcast. The scandal was uncovered during an outside counsel investigation into a complaint against Shell. #NBCUniversal… pic.twitter.com/CV0nUJrDlY
— Simon Ateba (@simonateba) April 23, 2023
"Today is my last day as CEO of NBCUniversal," Shell declared in a statement Sunday. "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," the statement read. "They are the most talented people in the business and the opportunity to work with them the last 10 years has been a privilege."
Who is Jeff Shell?
Before becoming CEO in January 2020, Shell held the position of chairman of NBCUniversal's Film and Entertainment, where he was responsible for overseeing programming at various operations and generating content. This includes the company's film and network divisions, including the Telemundo network, which is available in Spanish. To offset financial losses brought on by the COVID-19 epidemic, Shell reduced senior management remuneration by 20% in May 2020 and scaled back pay for workers making more than $100,000 annually by 3%. Shell was promoted to the top position of NBCUniversal after outgoing CEO Steve Burke stepped down in December 2019. According to Securities and Exchange Commission filings, revenue under Burke increased to about $35.9 billion in 2018, up from just under $31.4 billion in 2016.
Who is Shell's wife?
Shell, who is married, has worked for the business for a total of two decades. He is married to Laura Fay Shell, who formerly served as a planning deputy for Los Angeles County Supervisor Zev Yaroslavsky until 2005, as per TVMCK.
Who will take Shell's place?
Shell's replacement as CEO has yet to be identified. Comcast President Mike Cavanagh will reportedly take over Shell's duties until a replacement is found, with NBCUniversal's TV and streaming head Mark Lazarus and theatrical operations chief Donna Langley reporting directly to him during the transition, as per New York Post.
