Jeff Shell Steps Down As CEO Of NBCUniversal Following Confession Of 'Inappropriate Relationship'

Jeff Shell exited as the CEO of NBCUniversal, a Comcast Corporation (NASDAQ:CMCSA) owned company, with immediate effect.

What Happened: Shell said Sunday, "I had an inappropriate relationship with a woman in the company, which I deeply regret," reported Reuters.

"I’m truly sorry I let my Comcast and NBCUniversal colleagues down."

No immediate successor to Shell was named by Comcast.

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Shell's senior team will report to Comcast President Mike Cavanaugh, said the company in an email, seen by Reuters.

"When our principles and policies are violated, we will always move quickly to take appropriate action, as we have done here," said Cavanagh and Comcast's CEO Brian Roberts in the email, according to the report.

Why It Matters: Comcast said that the probe into the complaint against Shell was led by outside counsel, reported Reuters.

Shell's predecessor at the Universal film studio, Ron Meyer, stepped down from his role at NBCUniversal after admitting a "brief and consensual" affair with an unnamed woman in 2020, reported The New York Times.

Shell was responsible for Comcast's film studio and television business and the Peacock streaming services as well as Universal's theme parks.

Price Action: On Friday, Comcast Class A shares closed largely unchanged at $37.34, according to data from Benzinga Pro.

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