Jeff Zucker has been named president and CEO of NBC Universal effective immediately.

Zucker succeeds Bob Wright, who served in the position for 21 years. Wright will continue as vice chairman of NBCU's parent company GE.

"Jeff will succeed one of the true giants in media -- Bob Wright -- to whom we owe a tremendous debt of gratitude for helping to build this great media company," said GE chairman and CEO Jeffrey R. Immelt. "By any measure, Bob is one of the most successful media executives ever. He transformed NBC from a broadcast network into a diversified global media company. He was always able to see what was coming next, whether it was cable, satellite, Hispanic broadcasting or digital media. Bob’s strategic vision and execution kept NBC growing."

Zucker has worked at NBC for 21 years, starting at the network as a researcher for coverage of the Seoul Olympics in 1988. He swiftly moved to production and became executive producer of the network's flagship breakfast news programme, Today, in 1992. He remained in the position until 2000 when he was appointed president of NBC's entertainment unit. Zucker continued to rise in the ranks after NBC's merger with Universal, eventually assuming responsibility for the company's broadcast and cable channels.

"Bob [Wright] has been a terrific mentor to me throughout my career, and I am honoured to be his successor and fortunate to assume responsibility of a company that is so well positioned for future growth," said Zucker. "I’ve spent my entire career at NBC and had the privilege to work with the best in the business every day. I look forward to continuing to work with this talented management team as we take NBC Universal to the next level."