Paramount says its board of directors followed “standard practice” in evaluating the conduct of President Jeff Shell before his exit from the company.
In a statement Wednesday, Paramount expressed thanks to Shell for serving as a “valued advisor” to the company. He joined RedBird Capital, a key backer of Skydance, in 2023 before the production company’s eventual merger with Paramount Global.
Shell, who had been ousted as CEO of NBCUniversal following an inappropriate relationship with a CNBC reporter, was revealed Wednesday to be finalizing his exit from Paramount.
As a seasoned media veteran, Shell was relied upon by David Ellison, formerly Skydance’s chief and now CEO of Paramount, to help with the lengthy merger process as well as overall strategy. Paramount subsequently prevailed in a months-long effort to acquire Warner Bros. Discovery, with its $110 billion offer edging out a rival bid by Netflix that had
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