NBCUniversal chief executive Jeff Shell is leaving Comcast effective immediately, following a company investigation into a complaint of inappropriate conduct.
In a brief press release issued Sunday, Shell stated, “Today is my last day as CEO of NBCUniversal. I had an inappropriate relationship with a woman in the company, which I deeply regret. 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 19 years has been a privilege.”
Comcast did not name an immediate successor, but Shell’s team will report to Comcast President Mike Cavanagh, per a staff memo shared on social media. Cavanagh, who was promoted to president last October, previously served as the company’s chief financial officer.
“We are disappointed to share this news with you,” Cavanagh and Comcast Chairman and CEO Brian Roberts told employees. “We built this company on a culture of integrity. Nothing is more important than how we treat each other.”
Shell assumed the role of NBCU chief in January 2020. In addition to overseeing NBCU’s TV networks and movie studio, he was also responsible for the Peacock streaming service, which launched in April of that year.
“When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here,” Roberts and Cavanagh added.
Shell’s exit comes after Peacock saw continued subscriber growth in the fourth quarter – surpassing 20 million paid users. In February, NBCU stopped offering the free version of Peacock to new customers, shifting more focus to its premium offering, as an NBCU representative told Fierce Video at the time.
Speaking on Comcast’s earnings call in January, Shell said the company “could not be more positive about our trajectory so far” for Peacock.
“We're right where we expected to be as far as investment, and we're well above where we expected to be as far as paid subs, which was going to pay off,” he said. “We wouldn't be making the investment if we didn't see the investment in Peacock alone delivering return over time.”
NBCU has also indicated plans to integrate shoppable content into Peacock sometime this year. Comcast is scheduled to report first quarter earnings on Thursday, when it will likely reveal more information about its strategy for Peacock.