Jeff Shell Named CEO of NBCUniversal,
Effective January 2020
Comcast Corporation (Nasdaq: CMCSA) today announced that
NBCUniversal CEO Steve Burke will retire on August 14, 2020,
following the Summer Olympics in Tokyo. Effective January 1, 2020,
Jeff Shell will become CEO of NBCUniversal, reporting to Burke, who
will move to the role of Chairman, NBCUniversal. Upon Burke’s
retirement, Shell will report directly to Brian Roberts, Chairman
and CEO of Comcast.
“I cannot thank Steve enough for the incredible impact he has
had on this entire company. I will miss Steve’s trusted
partnership, and I know I speak for both myself and my late father
Ralph when I say that we will be forever grateful to him for
shaping first Comcast and then NBCUniversal into the great
companies they are today. When Comcast acquired NBCUniversal in
2011, I never imagined it would become the fastest growing media
company. Steve’s leadership and the team that he built has had
everything to do with this outstanding performance,” said Mr.
Roberts.
Mr. Roberts continued, “Jeff Shell is the ideal executive to
take the helm at NBCUniversal. He has a stellar track record across
both the film and TV side of the business, as well as a wealth of
international experience. I have worked closely with Jeff for many
years and he is an extraordinary leader who inspires loyalty,
delivers strong results and cares deeply about our company, its
employees and partners. I could not be more confident in his
ability to lead NBCUniversal into the future.”
Mr. Burke commented, “It has been a privilege to work so closely
with Brian for the last 22 years, and particularly to have had the
opportunity to lead NBCUniversal for the last nine. This is a very
special company and I am proud of the people I have worked with and
the things we have accomplished together. While this has been a
dream job, it has always been my plan to hand off the baton at the
right moment and move on to the next chapter of my life where I can
pursue a different set of interests. It is great to know I am
leaving the company in terrific hands with Jeff, who is the right
leader to usher in the next phase of growth and success for
NBCUniversal.”
Mr. Shell added, “It is truly an honor to step into this role,
and I am excited that Brian and the Comcast board are giving me the
incredible opportunity to help steer the future of NBCUniversal.
I’m sincerely grateful to Steve, who has been an amazing boss and
mentor for the last 15 years and leaves behind an extraordinary
legacy of visionary leadership and success. I look forward to
building on this strong track record and partnering with the many
talented leaders across the company.”
Burke has presided over NBCUniversal during a time of
unprecedented growth and achievements for the company. Under his
leadership, NBCUniversal increased its adjusted EBITDA from $3.4
billion to $8.6 billion since the Comcast acquisition of
NBCUniversal in 2011 through 2018 – achieving the fastest annual
growth rate of any major media company.
Against the backdrop of the most competitive content landscape
in history, the television networks of NBCUniversal enjoyed record
success. NBC ascended from fourth place to number one, winning the
primetime season for six years in a row. The cable networks
achieved record profit levels, with USA Network continuing its
reign as the number one cable entertainment network. The news
division reached new heights with all four NBC News programs
ranking number one, while MSNBC enjoyed tremendous success as one
of the fastest growing cable networks. Additionally, Telemundo
eclipsed Univision as the number one Spanish-language network in
primetime.
The film business also achieved new milestones, as Universal
Pictures had a string of blockbusters that yielded two of the most
profitable years in the studio’s 107-year history, thanks to a
successful franchise strategy and a key partnership with
Illumination that spawned hits such as Fast & Furious, Jurassic
World and Despicable Me.
In a strategic move to double the company’s animated film
output, Burke helped engineer the acquisition of DreamWorks
Animation, home to Shrek, Kung Fu Panda, How to Train Your Dragon,
Boss Baby and countless other hits.
The company’s success in animated film created new IP that
became the basis from some of the most popular theme park
attractions at Universal Parks and Resorts, which helped transform
this business into one of NBCUniversal’s biggest growth drivers.
The Parks business also underwent a fruitful expansion, with the
opening of the Volcano Bay water park in Orlando, the
extraordinarily popular Harry Potter attractions, and five new
hotels.
Under Burke’s leadership, the company won the broadcast rights
for the Olympics in a landmark deal that locked in the games for
NBC Sports through 2032. Over the years, the Games have been the
most-watched television events of the year – from London to Sochi
to Rio – and have generated record profits.
One of the hallmarks of Burke’s tenure at the company was the
collaborative culture he created. Burke designed a cross-company
effort, nicknamed “Symphony,” where every NBCUniversal brand, in
addition to Comcast, puts its promotional muscle behind a singular
marketing priority. This initiative has yielded some of the biggest
box office hits, TV series premieres and higher theme park
attendance.
Prior to running NBCUniversal, Burke served as Chief Operating
Officer of Comcast, following 11 years as President of its cable
division. There, he helped grow the company into the largest cable
and internet provider and led the highly successful integration of
AT&T Broadband with Comcast.
Before Comcast, Burke held several leadership roles at The Walt
Disney Company, including as President of ABC Broadcasting, and
President and Chief Operating Officer of Euro Disney S.A. Burke
serves on the board of directors of Berkshire Hathaway Inc., and
J.P. Morgan Chase & Co.
Jeff Shell currently oversees the company’s film and network
television businesses including NBC Entertainment, Universal Filmed
Entertainment Group (UFEG), Telemundo and NBCUniversal
International. Prior to that, he served as Chairman of UFEG and led
the film division to record profit crossing the $5 billion mark in
global box office in both 2015 and 2017.
Previously, as Chairman of NBCUniversal International, Shell
managed all aspects of NBCUniversal’s international businesses
including International TV Distribution, Global Television Networks
and International Television Production. He also oversaw, in
partnership with their domestic leaders, CNBC International,
International Theatrical Marketing and Distribution, International
Home Entertainment and International Theme Parks Operations.
Prior to joining NBCUniversal, Shell served as President of
Comcast Programming Group where he was responsible for managing
Comcast’s national and regional television networks including E!
Entertainment Network, the Golf Channel, International Channel
Networks, and Comcast Sports Group. Under his leadership, Comcast’s
networks grew significantly in distribution, viewership and
profitability during his six-year tenure.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and
technology company with three primary businesses: Comcast Cable,
NBCUniversal, and Sky. Comcast Cable is one of the United States’
largest high-speed internet, video, and phone providers to
residential customers under the Xfinity brand, and also provides
these services to businesses. It also provides wireless and
security and automation services to residential customers under the
Xfinity brand. NBCUniversal is global and operates news,
entertainment and sports cable networks, the NBC and Telemundo
broadcast networks, television production operations, television
station groups, Universal Pictures, and Universal Parks and
Resorts. Sky is one of Europe's leading media and entertainment
companies, connecting customers to a broad range of video content
through its pay television services. It also provides
communications services, including residential high-speed internet,
phone, and wireless services. Sky operates the Sky News broadcast
network and sports and entertainment networks, produces original
content, and has exclusive content rights. Visit
www.comcastcorporation.com for more information.
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version on businesswire.com: https://www.businesswire.com/news/home/20191216005205/en/
Investor Contacts: Jason Armstrong (215) 286-7972
Jason_Armstrong@Comcast.com
Greg Horn (215) 286-8347 Greg_Horn@Cable.Comcast.com
Jane Kearns (215) 286-4794 Jane_Kearns@Comcast.com
Media Contacts: Hilary Smith (212) 664-2617
Hilary.Smith@NBCUni.com
John Demming (215) 286-8011 John_Demming@Comcast.com
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