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Photo: Alexander Tamargo/Telemundo/NBCU
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