Panoramic view of Paramount Pictures Studios and its iconic water tower in Los Angeles, California, USA, taken on February 27, 2026.
Mario Anzuoni | Reuters
Jeff Shell resigns as president Paramount Skydance Corporation following a lawsuit accusing him of violating the Securities and Exchange Commission.
The company said it found no SEC violations. Paramount added in a statement that the allegations were “baseless” and said Shell was taking “strong legal action.”
“Consistent with Mr. Shell’s commitment to prioritizing PSKY’s success, he has elected to step down from his positions as President of PSKY and as a member of the PSKY Board of Directors to focus on this litigation,” the company said in a statement. “PSKY is grateful to Mr. Schell for his significant contributions and for trusting him as a valued advisor.”
Shell could not be reached for comment.
His future at Paramount has been in doubt since the company went bankrupt Netflix In the takeover battle in February warner bros discovery. The WBD acquisition will bring a number of new executives, but Mr. Shell, who was not involved in deal negotiations, had no defined role in the combined company, CNBC reported last month.
Shell came under intense scrutiny after gambler and whistleblower RJ Cipriani filed a $150 million lawsuit accusing it of sharing confidential information in violation of SEC rules.
Schell previously resigned as CEO of NBCUniversal in 2023 after admitting to having an “inappropriate relationship” with an employee.
— CNBC’s Alex Sherman contributed to this report.
