Jeff Shell resigns as CEO of NBCUniversal over ‘inappropriate relationships’

Finance


Jeff Shell has resigned as CEO of NBCUniversal (CMCSA) following a company investigation that Shell had an “inappropriate relationship” with a female employee.

Comcast announced the news on Sunday afternoon — less than a week after it was due to release its quarterly results. According to a joint statement, Comcast and Shell have mutually agreed to the immediate resignation of executives.

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

“I am so sorry to have let my colleagues at Comcast and NBCUniversal down. They are some of the most talented people in the industry and it has been an honor to work with them over the past 19 years,” he continued.

SUN VALLEY, Idaho - JULY 6: NBCUniversal CEO Jeff Shell walks from lunch at the Allen & Co. Sun Valley Conference on July 6, 2022 in Sun Valley, Idaho. Media, The richest and most powerful businessmen in the world of finance and technology are convening at the Sun Valley Resort this week for a special conference.  (Photo by Kevin Deitch/Getty Images)

SUN VALLEY, Idaho – JULY 6: NBCUniversal CEO Jeff Shell walks from lunch at the Allen & Co. Sun Valley Conference on July 6, 2022 in Sun Valley, Idaho. Media, The richest and most powerful businessmen in the world of finance and technology are convening at the Sun Valley Resort this week for a special conference. (Photo by Kevin Deitch/Getty Images)

In an internal memo obtained by Variety, Comcast CEO Brian Roberts and Comcast President Mike Cavanagh wrote to employees: We should look to our leaders to create a safe and respectful workplace. When our principles and policies are violated, we will always act quickly to take appropriate action, as we have done here. “

“Please be advised that NBCUniversal is performing exceptionally well, both operationally and financially. We are fortunate to have an experienced, world-class group of executives leading such a company,” he added.

Shell has been with Comcast since 2004, overseeing the company’s film studio and theme park divisions, as well as news and entertainment television networks. Steve has served as CEO of NBCUniversal since January 1, 2020, replacing Burke.

Prior to assuming the role of Chief Executive Officer, he served as Chairman of NBCUniversal Film and Entertainment, where he focused on the programming, distribution and other content creation behind NBCUniversal’s film and network television businesses.

No successor has been named at this time. Comcast will report his first quarter earnings on Thursday, April 27th.

Alexandra Canal Senior Reporter at Yahoo Finance. follow her on her twitter @alliecanal8193 Send an email to alexandra.canal@yahoofinance.com.

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