NBCUniversal CEO Jeff Shell steps down following investigation into inappropriate relationship.

Breaking news: NBCUniversal CEO Jeff Shell is stepping down after admitting to an inappropriate relationship with a colleague. This comes after an investigation was launched following a complaint.

Shell expressed deep regret, saying, “I’m truly sorry I let my Comcast and NBCUniversal colleagues down.”

Shell had been with Comcast for about two decades and took over as CEO in 2020. He oversaw the media company’s broad portfolio of businesses, including the Universal film studio and television business, the Peacock streaming service, and Universal’s theme parks.

Comcast has not yet named a successor.

One of the challenges Shell’s successor will face is the decline of the traditional television business. While rival studios were investing heavily in streaming, Shell adopted a more conservative approach with Peacock, which relies on advertising instead of subscription revenue.

Despite this, Peacock has made gains, surpassing 20 million subscribers in the fourth quarter of 2022 thanks to the FIFA World Cup and the addition of NBC shows.

Shell’s senior team will now report directly to Comcast President Mike Cavanagh.

Comcast said the investigation into the complaint against Shell was led by outside counsel.

Stay tuned for updates on this developing story.

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