CBS denies former CEO Les Moonves $120 million severance
NEW YORK — CBS announced Monday that former CEO Les Moonves will not receive his $120 million severance package after the board of directors concluded he violated company policy and was unco-operative with an investigation into sexual misconduct allegations.
The decision, which came after a five-month outside investigation, capped the downfall of one of television’s most influential figures, the biggest entertainment powerbroker to see his career derailed amid the #MeToo movement against sexual misconduct.
A lawyer for Moonves said the board’s conclusion “are without merit” but did not say whether the former CEO would challenge it in arbitration.
Moonves was ousted in September after allegations from women who said he subjected them to mistreatment including forced oral sex, groping and retaliation if they resisted.