CBS Executive Les Moonves Reportedly On His Way Out After Sexual Misconduct Allegations
The CBS board is reportedly negotiating a hefty settlement with CEO Les Moonves, who was accused of sexual misconduct in August.
Six women told The New Yorker in a bombshell report last month that Moonves sexually harassed them and others alleged that the company was covering up the abuse.
According to a report by CNBC, the board of CBS is trying to get rid of Moonves and temporarily replace him with COO Joe Ianniello.
Moonves is due $180 million in severance and a production deal per his contract, but the board is currently offering him approximately $100 million — almost all of which would be in CBS stock.
CNBC’s sources also said the board reserves the right to reduce the severance package if the allegations against Moonves are confirmed.
Moonves started working at CBS in July 1985 as the president of CBS Entertainment and became CEO of CBS in February 2016.