Les Moonves won’t get $120M exit package, CBS says
Disgraced former CBS CEO Les Moonves will not collect on his $120 million severance package following an internal investigation into sexual misconduct allegations, the network announced Monday.
“With regard to Mr. Moonves, we have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation,” CBS said in a statement
“Mr. Moonves will not receive any severance payment from the Company.”
More than a dozen women have accused Mr. Moonves of sexual harassment and assault dating back to 1980s. He stepped down as CEO in September and denied all allegations of wrongdoing.
CBS’announcement Monday came after the network pledged to give $20 million to 18 organizations dedicated to eliminating sexual harassment in the workplace.