Les Moonves Negotiating Exit From CBS


Under that arrangement, Moonves, remarkably, would be forfeiting approximately $80 million in compensation which he would reportedly be owed as part of a severance package and a production deal.

This week CBS's board announced it has appointed two legal firms to look into the allegations brought against Moonves.

Moonves' potential exit from CBS comes at a time of twin sources of turmoil for the company.

Media company CBS Corp's board is in settlement talks with Chief Executive Officer Les Moonves and has offered about $100 million exit package, CNBC reported https://www.cnbc.com/2018/09/06/cbs-board-in-negotiations-for-ceo-moonves-exit-f r o m - t h e - c o m p a n y - s o u r c e s. h t m l, citing people familiar with the negotiations.

CBS shares rose more than 3 percent.

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The report also notes that COO Joe Ianniello could be tapped as a temporary replacement.

Six women who had professional dealings with Moonves told The New Yorker in an article published on July 27 that he sexually harassed them between the 1980s and late 2000s.

The US television giant has been the focus of an ongoing legal battle between the Redstone family and the board, chaired by Moonves.

Inquiries to CBS were not returned at the time of publication. CBS, led by Moonves, has opposed the move. It was not immediately clear if this could mean Moonves receives less than $100 million or anything at all.

"A man accused of rigorously reported allegations of harassment should not be rewarded with a golden parachute", the Hollywood women founded group said in a statement Thursday as Moonves' pay day looked to be nearly here."Les Moonves walking away with a $100 million settlement sends a message to survivors everywhere that powerful men can act without fear of outcome", the Reese Witherspoon, Natalie Portman, Nina Shaw, Rashida Jones, Kerry Washington, Lena Waithe, America Ferrera, Eva Longoria, Ashley Judd and Ava DuVernay supported organization added.