Phil McCarten | Reuters
NBCUniversal announced Monday it restructured its executive team, just months after new CEO Jeff Shell took over.
Among the notable changes: NBC News Group President Andy Lack will step down and leave the company by the end of May amid the company-wide 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 shut down of its theme parks and a downturn in advertising spend that supports news and entertainment.
Disclosure: NBCUniversal is the parent company of CNBC.