NBCUniversal Media LLC CEO Steve Burke will likely step down from his post in 2020 ahead of the expiry of his contract in August next year, Variety reported, citing multiple sources.

NBCUniversal Film and Entertainment Chairman Jeff Shell is reportedly expected to take over the reins after Burke.

Burke is currently formalizing his exit plans, and he could move higher up the ranks at NBCUniversal parent Comcast Corp. or oversee Sky Ltd., the report said. He was named CEO of NBCUniversal in January 2011.

Burke initiated a reorganization of leadership roles in the company in January, which saw Shell taking over NBC Entertainment, Telemundo (US), and the broadcaster's international operations while continuing to oversee the film division.