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NBCUniversal CEO Jeff Shell is departing the company due to an "inappropriate relationship" following an internal investigation, NBC's parent company Comcast Corp. announced Sunday.
In a joint statement with Comcast, Shell, who has worked at the company for nearly two decades, said both parties "mutually agreed" that he will step down immediately in light of an investigation by outside counsel into a complaint of inappropriate conduct involving a woman in the company.
CEO of NBC Jeff Shell arrives for the Allen & Company Sun Valley Conference on July 06, 2021 in Sun Valley, Idaho. After a year hiatus due to the COVID-19 pandemic the world's most wealthy and powerful businesspeople from the media, finance, and technology will converge at the Sun Valley Resort for the exclusive week-long conference. (Photo by Kevin Dietsch/Getty Images)
"Today is my last day as CEO of NBCUniversal," Shell said in the statement. "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."
It is unclear who will replace Shell as CEO of the entertainment conglomerate.
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The company reportedly launched an investigation into Shell's conduct after receiving a complaint from an employee, the Wall Street Journal reported, citing people familiar with the matter.
In an internal company-wide memo, Comcast CEO Brian L. Roberts and president of Comcast Corp. Mike Cavanagh, wrote, "We are disappointed to share this news with you. We built this company on a culture of integrity. Nothing is more important than how we treat each other. 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 appropriate action, as we have done here."
The memo continued, "Please know that NBCUniversal is performing extremely well operationally and financially, and we couldn’t be more enthusiastic about our position and prospects going forward," Roberts and Cavanaugh wrote. "We are fortunate to have an experienced, world-class group of executives leading this incredible company."
In this photo illustration a NBC logo seen displayed on a smartphone. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images)
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The memo said that Shell's senior team will report to Cavanagh for the time being.
Shell joined Comcast in 2004. He was named CEO of NBCUniversal on Jan. 1, 2020.
According to the company's website, Shell oversaw NBCUniversal's "portfolio of news and entertainment television networks, a premier motion picture company, significant television and sports production operations, a leading television stations group, world-renowned theme parks and a premium ad-supported streaming service."
Shell's ousting follows the departure of longtime NBCUniversal executive Ron Meyer, who left the company in 2020 after admitting he paid off a woman who tried to extort him for a "consensual" affair he had years earlier.
This is a developing story. Check back for updates.