Dec. 16 (UPI) -- NBCUniversal CEO Steve Burke will retire after the network broadcasts the 2020 Summer Olympic Games in Japan next year, the media conglomerate announced Monday.
Burke, 61, who has headed NBCUniversal since Comcast acquired the company in 2011, will retire next Aug.14 -- five days after the Olympics close in Tokyo. NBC has held exclusive broadcast rights for all Olympic Games since 2000.
"Under Burke's leadership, the company won the broadcast rights for the Olympics in a landmark deal that locked in the games for NBC Sports through 2032," NBCUniversal said in its announcement. "Over the years, the Games have been the most-watched television events of the year ... and have generated record profits."
Before ascending to CEO, Burke was chief operating office at Comcast when the largest U.S. cable company acquired the network in 2011. He was previously the broadcasting chief at the American Broadcasting Company for about a year.
"It has always been my plan to hand off the baton at the right moment," Burke said Monday.
Before his retirement, Burke will temporarily move into the role of chairman on Jan. 1 and he will be succeeded as CEO by NBCUniversal film and television chief Jeff Shell.
As CEO, Burke has been preparing to launch a new streaming service, called Peacock, to compete with offerings like Netflix, Disney Plus and Apple TV. The network is considering both free, ad supported and paid subscription versions of Peacock.