NBCUniversal reorganizes leadership team, chairman of news to step down
- NBCUniversal announced a new executive organizational structure.
- NBC News Group Chairman Andy Lack will step down by the end of the month.
- The company's news networks will be condensed into a single unit under Cesar Conde.
- The entertainment, sports and online video divisions will be run by Mark Lazarus.
NBCUniversal announced Monday it restructured its executive team, just months after new CEO Jeff Shell took over.
Among the notable changes: NBC News Group Chairman Andy Lack will step down and leave the company by the end of May amid the restructuring.
The company's news networks, including NBC News, MSNBC and CNBC, will be condensed into a single unit under Cesar Conde, now chairman of NBCUniversal News Group.
The move also puts NBCUniversal's television networks and its new streaming service, Peacock, under Mark Lazarus, now chairman of television and streaming. He will continue to oversee the NBC Sports Group, owned television stations and affiliate relations, the company said.
NBCUniversal is bracing for a big year as it enters the crowded streaming market, with Peacock set to launch broadly on July 15. Meanwhile, the company faces several challenges related to the coronavirus pandemic, including the shutdown of its theme parks and a downturn in advertising spend that supports news and entertainment.
Correction: Andy Lack most recently served as Chairman of NBC News and MSNBC. An earlier version of this article misstated his title.
Disclosure: NBCUniversal is the parent company of CNBC.