Published: Tue, December 18, 2018
Markets | By Otis Pena

CBS fires CEO Leslie Moonves and denies $120 million severance

CBS fires CEO Leslie Moonves and denies $120 million severance

"Based on the facts developed to date, we believe that the board would have multiple bases upon which to conclude that the company was entitled to terminate Moonves for cause", the draft report also reportedly said.

Moonves was forced out of his role as CEO and Chairman of CBS on September 9after the New Yorker published a story by Ronan Farrow alleging more than two decades of "unwanted kissing and touching" in the CBS offices. "Consistent with the pattern of leaks that have permeated this 'process, ' the press was informed of these baseless conclusions before Mr. Moonves, further damaging his name, reputation, career and legacy".

"Mr. Moonves vehemently denies any non-consensual sexual relations and cooperated extensively and fully with investigators", the Dechart partner and former Assistant U.S. Attorney for the Southern District of NY in the Securities and Commodities Fraud Unit concluded. Moonves also "vehemently denies any non-consensual sexual relations and cooperated extensively and fully with investigators", Levander said.

This is after all, the man who gave the green light to Survivor.

The board, which met over several days last week, came to its decision after reviewing information gathered by lawyers hired by the company to investigate claims against Moonves, who was forced out in September, as well as the broader workplace culture at the network.

The law firms interviewed numerous women who had accused Moonves of sexual misconduct.

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"We would like to thank everyone who cooperated with the investigation and applaud CBS' employees for remaining focused on their jobs during this very hard time".

The investigators found that CBS has dedicated inadequate resources to training and diversity and inclusion initiatives for a company of its size. When the board concluded their probe, they determined that Moonves' behavior was cause enough for his firing. The firms - Covington & Burling and Debevoise & Plimpton - also looked into allegations against other individuals at the media company.

The company revealed a list of 18 organizations last week that would receive the funds, including several groups that have emerged as prominent voices since the downfall previous year of Hollywood producer Harvey Weinstein, which triggered an avalanche of sexual misconduct allegations against powerful men across several industries.

But on Monday evening, they said in a statement that the wide-ranging investigation into Moonves, CBS News "and cultural issues at CBS" is now complete.

The 18 groups praised the donations but called on CBS to publicly disclose the results of the Moonves investigation. The investigation comes 13 months after the firing of Charlie Rose, who was co-host of "CBS This Morning" before being ousted over reports of sexual misconduct.

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