NBCU CEO Jeff Shell in shock exit after ‘inappropriate relationship’

NBCUniversal CEO Jeff Shell is leaving the company with immediate effect, following an investigation into alleged inappropriate conduct.

NBCU parent Comcast made the shock announcement on Sunday, with Shell confirming that his exit followed an “inappropriate relationship with a woman in the company, which I deeply regret.”

Jeff Shell

Shell, who is married, added: “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 10 years has been a privilege.”

A successor has not yet been named and in the interim, Shell’s team with report to Comcast president Mike Cavanagh.

“Nothing is more important than how we treat each other,” said Cavanagh and Comcast CEO Brian Roberts in a statement.

“You should count on your leaders to create a safe and respectful workplace. When our principles and policies are violated, we will always move quickly to take the appropriate action, as we have done here.”

Exit & issues

Reports in US trade Deadline suggest the exit of Shell revolves around a relationship with a former CNBC anchor, which began more than a decade ago and ended several years ago. The relationship was reported to the company in the past month.

Shell had been in the role since 2020, having been named as the successor to Steve Burke.

He had previously been chairman of NBCU Film & Entertainment and also had hands-on experience of operations outside of the US, having been chairman of NBCU International.

His departure comes at a turbulent time for NBCU and parent Comcast, which is in the midst of navigating the ongoing squeeze around streaming and driving its Peacock service, which has seen recent subscription growth.

Comcast has also yet to decide what to do with its 33% stake in US streamer Hulu, which it co-owns with Disney. The Mouse House holds the remaining 66% but has been unclear about its intentions.