David Ellison’s right-hand man is leaving Paramount Skydance.
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Jeff Shell has stepped down from Paramount, where he’d been president since August 2025, the company said in a statement on Wednesday. As president, Shell helped oversee the company’s day-to-day operations.
The company said in a statement that it was “grateful for Mr. Shell’s many contributions and to have relied on him as a valued advisor.”
Shell’s departure comes weeks after a strange legal fight in which RJ Cipriani, a professional gambler and self-proclaimed whistleblower, sued the Paramount president for $150 million. In the suit, Cipriani alleged that he wasn’t paid for “crisis communications services” he provided and was misled about a TV show he said Shell promised to help him make.
Cipriani also accused Shell of telling him about sensitive, non-public information, including its deal to secure UFC rights in the US.
In response, Shell countersued Cipriani, alleging extortion and defamation and calling the case “a shakedown.”
Cipriani is not shy about his history of alerting the feds. He told The Hollywood Reporter in an interview: “If that’s extortion, I guess I’m an extortionist. I don’t know what to tell you.”
Paramount said in its statement that it “followed standard practice” and, with the help of a law firm, “conducted a complete and thorough review” of Cipriani’s allegations.
“The facts demonstrated that these allegations do not establish a securities law violation,” Paramount said. The company added that Shell “has elected to transition” from his role as president and Paramount’s board “to focus on this lawsuit.”
Prior to joining Paramount, Shell was chairman of RedBird Sports and Media, led by Paramount investor Gerry Cardinale.
Shell also served as CEO of NBCUniversal for more than three years. NBCU fired Shell for cause after an investigation into allegations of sexual misconduct against him, leaving the executive without more than $43 million in severance he would have received. Shell apologized for an “inappropriate relationship” with a colleague and said he was “truly sorry” to employees at NBCU and Comcast, its parent company.
Shell helped guide Ellison as he became Paramount’s CEO last August, including through the media company’s turbulent pursuit of Warner Bros. Discovery.
Ellison has remade Paramount in other ways besides buying WBD. Those include bringing in polarizing editor Bari Weiss as the top editor at CBS News and requiring many Paramount employees to work in the office full time.
