NBC CEO Jeff Shell steps down

Shell is leaving after acknowledging an inappropriate relationship with an employee

 
NBC Universal will undergo a major shakeup as the CEO stands down.

Chief Executive Jeff Shell is leaving after acknowledging he has engaged in an inappropriate relationship with a fellow employee.

Parent company Comcast confirmed the decision.

Shell has been with Comcast for two decades and will leave immediately.

In a statement, Shell says: “[He] had an inappropriate relationship with a woman in the company, which [he] deeply regrets.”

Prior to his current role, Shell was the chairman of NBCUniversal Film and Entertainment.

As CEO, he oversaw the company’s broad portfolio of businesses, including the Universal film and television business, the Peacock streaming service and Universal’s theme parks.

During a period when rival groups were investing heavily in streaming, Shell adopted a more conservative approach.

Peacock was conceived under his predecessor, and was designed to preserve the familiar television business model, relying on advertising instead of exclusively on subscription revenue.

Peacock has made gains, though they are smaller than rival services.