NBCUniversal CEO Jeff Shell resigns after 'inappropriate relationship' with colleague

Jeff Shell apologised to his colleagues for the affair as he announced his resignation.

NBCUniversal CEO Jeff Shell has resigned from his position after an investigation into allegations of inappropriate conduct. The announcement was made by the company's parent, Comcast, who did not provide any further details about the investigation. However, in a statement, Shell admitted to having an "inappropriate relationship" with a woman who worked for the company, which he deeply regrets.

Comcast, NBCUniversal's parent company, announced on Sunday that Shell would depart effective immediately, after an investigation led by an outside counsel. The brief statement did not specify who the woman was or include any other details about the investigation.

In a statement, Shell admitted to having an “inappropriate relationship” with a woman in the company, expressing deep regret for letting down his Comcast and NBCUniversal colleagues.

“Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret,” Shell said in a statement. “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.”

The woman involved in the relationship filed a complaint in recent weeks, prompting the outside investigation led by an outside counsel. Shell continued to carry out his normal duties during the investigation, which resulted in his immediate departure.

NBCUniversal will not be searching for a successor to Shell, and Comcast President Mike Cavanagh will assume his duties. Shell had been CEO since January 2020 and had expressed confidence in NBC's streaming service, Peacock, which surpassed 20 million paid subscribers at the end of 2022. However, the streaming service's adjusted earnings loss was wider. Shell had also launched a shakeup of the company to make its streaming and traditional TV operations work more closely together.

Comcast is set to report its first-quarter earnings on Thursday. NBCUniversal is home to NBC, one of America's biggest television networks, business news channel CNBC, and major Hollywood film studio Universal Pictures. Comcast also owns Europe's largest pay-TV broadcaster Sky Group.

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