NBCUniversal CEO Jeff Shell leaves company over ‘inappropriate relationship’

Orlando, USA - May 8, 2018: The large rotating Universal logo globe on May 8, 2018. Universal Studios is one of Orlando famous theme parks.

NBCUniversal CEO Jeff Shell, who oversees Universal theme parks, is departing the company immediately because of an inappropriate relationship he said Sunday in a blockbuster announcement.

“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,” Shell said in the statement.

The statement also said Comcast and Shell mutually agreed on Shell’s decision to step down after the company used an outside counsel to investigate Shell when the company received a complaint of inappropriate conduct.

Shell’s team will report in the interim to Mike Cavanagh, Comcast’s recently promoted president who previously worked as the company’s chief financial officer, CNBC reported.

“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,” Cavanagh and Comcast CEO Brian Roberts said in a separate statement Sunday, CNBC reported.

Shell had led NBCUniversal since 2020 which put him in control of the company’s news and entertainment television networks, film studios, streaming service Peacock and the Universal theme parks.

The New York Times reported the probe into Shell, who is married, began weeks ago when a woman involved in the relationship came forward with a complaint. While the investigation was under way, Shell “continued in his duties while the investigation proceeded, taking previously scheduled meetings with lawmakers in Washington and working on other matters. Mr. Shell was also scheduled to attend the White House Correspondents’ Association Dinner in Washington with his wife next Saturday,” the Times reported.

The news of Shell’s departure comes as Comcast is set to report its latest quarterly earnings Thursday.

For NBCUniversal, the theme parks have been a moneymaker.

Shell highlighted Epic Universe, Universal’s third theme park gate in Orlando that’s expected to open by the summer of 2025, when he spoke at a financial conference in December.

“We’re right on track. Literally right on track,” Shell said.