NBCUniversal CEO Steve Burke to step down, Jeff Shell to replace him

Longtime NBCUniversal CEO Steve Burke is retiring from his position, Comcast announced Monday morning.

• He'll be replaced by Jeff Shell, a television veteran who has been with Comcast for well over a decade, on Jan. 1, 2020.

Why it matters: Shell, who currently serves as head of NBCUniversal's film and entertainment divisions, takes over as Comcast and NBCUniversal readies the launch of its ad-supported streaming service, Peacock.

What's next: Burke will become chairman once Shell takes his position as CEO in January.

• He will leave the company in August after NBCU airs the 2020 Summer Olympic Games in Tokyo.
• Shell will report to Comcast CEO Brian Roberts, who in a statement called Shell the "ideal executive" to take over for Burke.

The big picture: Burke has led NBCU through some of its most transformative moments, including its 2011 takeover by Comcast.

• Sources say his exit has been in planning for many months.

Go deeper: The streaming battlefield is getting crowded