Jeff Shell is leaving as chief govt of NBCUniversal after an investigation right into a grievance of alleged inappropriate conduct with a feminine colleague, guardian firm Comcast stated on Sunday.
Shell, who has served as the highest govt of the media and leisure group since January 2020, stated in a press release offered by Comcast that he “had an inappropriate relationship with a lady within the firm”. Comcast stated the investigation into the grievance was led by exterior counsel.
A 19-year veteran of the corporate, Shell oversaw a sprawling empire at NBCUniversal, starting from the NBC tv networks to the Common movie studios, parks and resorts. Lately, he has grappled with the problem of elevating subscriptions on the Peacock streaming service, which has reached greater than 20mn prospects however lags far behind Netflix and Disney Plus.
Shell’s workforce — which incorporates Common chair Donna Langley and Mark Lazarus, head of the tv and streaming enterprise — will now report back to Mike Cavanagh, Comcast’s president.
No succession plan was introduced, however a protracted record of doable replacements may embody Lazarus, information chief Cesar Conde and Linda Yaccarino, head of worldwide promoting and partnerships, observers stated. Additionally it is doable that Brian Roberts, Comcast chair and CEO, may ask Stephen Burke to return to the function; Burke at present serves as chair of NBCUniversal.
Individuals who have labored with Shell stated he had lengthy loved Roberts’s belief. In a memo to employees seen by the Monetary Instances, Roberts stated he was “disenchanted” to share the information of Shell’s departure. He added that staff ought to be capable to depend on “leaders to create a protected and respectful office”.
“When our rules and insurance policies are violated, we’ll all the time transfer rapidly to take applicable motion, as we’ve executed right here,” Roberts wrote within the memo, which was additionally signed by Cavanagh.
Shell’s departure follows different high-profile dismissals at NBC. In 2020, Common vice-chair Ron Meyer was fired after confessing to creating a settlement with a lady over a consensual affair. Matt Lauer, as soon as the face of US morning information staple the As we speak present, was fired in 2017 after claims of inappropriate sexual behaviour with staffers.
Wall Avenue has grown involved about among the media property Shell oversaw, significantly the Peacock streaming service.
Peacock reported a $978mn loss in earnings earlier than curiosity, taxes, depreciation and amortisation within the fourth quarter, and the corporate forecast losses to peak this yr at round $3bn.
Questions “as as to whether Peacock can ever obtain successful scale or engaging long-term margins stay unanswered”, analysts at MoffettNathanson wrote in January.