Ousted NBC Executive Jeff Shell Loses $43.3 Million
Ouch! The Law of Cause & Effect is tough, but always in exactly the right proportion to the input it receives. Of course we’re only seeing the surface repercussions. What must be going on in his personal world of family plus self- recrimination for his mindless, self-indulgence must be brutal.
Find Rob’s book & ebook “What Goes Around Comes Around – A Guide To How Life REALLY Works” at Amazon or Audible
Kirkus Reviews says:
A stable, nonpreachy, objective voice makes the book stand apart from others in the genre. A successful guide that uses anecdotes of real human experiences to reveal powerful truths about life.
Ousted NBC Executive Jeff Shell Loses $43.3 Million After For-Cause Firing
Comcast says his stock options and grants were forfeited upon his termination
WSJ By Dean Seal April 28, 2023 at 2:21 pm ET
Former NBCUniversal Chief Executive Jeff Shell will lose out on more than $40 million in compensation after being terminated for cause earlier this week because of inappropriate conduct.
NBCUniversal parent Comcast Corp. CMCSA 2.73%increase; green up pointing triangle disclosed Friday that Mr. Shell’s stock options and grants, which were valued at $43.3 million when he was fired on Sunday, have been forfeited and canceled.
Mr. Shell had said he had an inappropriate relationship with a company employee. “I’m truly sorry I let my Comcast and NBCUniversal colleagues down,” he said Sunday in a statement.
CNBC International anchor Hadley Gamble has accused the former NBCUniversal media head of sexual harassment and sex discrimination in a complaint to Comcast, her lawyer said Monday.
Comcast hasn’t named a successor and tapped President Mike Cavanaghto oversee Mr. Shell’s direct reports for now. Mr. Cavanagh said on an earnings call Thursday that he expects to oversee NBCUniversal for a while.
Mr. Shell won’t be given severance or receive any supplemental benefits tied to his termination, and will receive only his accrued, unpaid base salary, Comcast said. He also will be paid out for his vacation time, vested employee benefits and reimbursable business expenses, according to a securities filing.
Jeff Shell acknowledged that he had an inappropriate relationship with a company employee. PHOTO: JAVIER ROJAS/ZUMA PRESS
Comcast’s proxy filing Friday said Mr. Shell’s total compensation was valued at $21 million last year, including the compensation that was forfeited with his termination. Mr. Shell’s total pay was valued at $21.6 million in 2021 and $16.5 million in 2020.
Comcast reported Thursday that revenue fell in the first quarter owing to a sharp decline in advertising, though the company’s Peacock streaming service continued to add new subscribers at a healthy pace.
The company said that in 2022, when Mr. Shell led NBCUniversal, momentum in Peacock continued, with paying subscribers more than doubling to more than 20 million, and the theme parks “performed exceptionally well.”
Kirkus Reviews, the gold-standard for independent & accurate reviews, has this to say about
What Goes Around Comes Around:
A successful guide that uses anecdotes to reveal powerful truths about life.
The stable, positive, non-preachy and objective voice makes the book stand apart from others in the genre.
~ Kirkus Reviews
“I’ve read a number of books that focus on sharing a similar message, including “The Secret” by Rhonda Byrne, “The Answer” by John Assaraf & Murray Smith, “The Celestine Prophecy” by James Redfield, “Think and Grow Rich,” by Napoleon Hill, and I must say that I find Rob’s to be my favorite.” – Sheryl Woodhouse, founder of Livelihood Matters LLC
Ousted NBC Executive Jeff Shell Loses $43.3 Million
Ousted NBC Executive Jeff Shell Loses $43.3 Million
New research shows small gestures matter even more than we may think.
I wonder about when this train actually went off the rail and Balwani and Holmes both knew it. It reminds me somewhat of Bernie Madoff’s $20 Billion deception in that if Bernie had fessed up when his performance first went south and he tried to cover it up, only to make it worse, he might largely have been forgiven and returned to his original trading business. But he just couldn’t do that and as time went on…well we know the result.
Was there a similar trajectory for this pair? A time when they looked at each other and said, “Uh oh!” Not that it matters really. Somewhere along the way they knew what was going down and kept it going for as long as they could. Now have to face the music as eventually, always is the case. It is simply “The Law of Cause and Effect” unfolding. Hopefully for them there will be less tragic endings than Bernie. It depends on how they handle what they have wrought! We’ll see.