Left Menu
Development News Edition

Moonves resigns CBS over sexual misconduct claims


US television giant CBS announced Sunday the immediate departure of CEO Leslie Moonves, one of the biggest scalps in the #MeToo era, following a slew of escalating sexual misconduct allegations.

Moonves, who orchestrated CBS's revival into a rating winner, had been one of the most respected executives in Hollywood until he was accused in late July of inappropriate behavior stretching back decades.

Two articles published by The New Yorker magazine -- on the same day that his departure was announced and on July 27 -- detailed allegations from 12 different women against the 68-year-old television titan.

Just hours later, CBS announced that Moonves would depart as chairman, president, and CEO "effective immediately," and that he and the network would donate USD 20 million to supporting the #MeToo movement and equality for women in the workplace.

His interim replacement will be chief operating officer Joseph Ianniello while the board searches for a permanent successor.

"The donation, which will be made immediately, has been deducted from any severance benefits that may be due to Moonves," CBS said.

An investigation being conducted by outside law firms into the allegations against Moonves is ongoing, the network said.

"Moonves will not receive any severance benefits at this time (other than certain fully accrued and vested compensation and benefits); any payments to be made in the future will depend upon the results of the independent investigation and subsequent board evaluation," it added.

Moonves's departure had been on the cards, with US media reporting in recent days that the terms of his departure had been under negotiation for weeks, and a deal had been expected before markets open Monday.

Reports had said his severance payment could range from USD 100 million in stock to USD 180 million stipulated in his contract, or even that he could leave with no bonus, pending the results of the investigation.

One of his accusers, Jessica Pallingston, told the Pulitzer-winning journalist Ronan Farrow, who broke the allegations against Moonves in The New Yorker, that such a payoff would be "completely disgusting."

Farrow's follow-up article on Sunday contained allegations from six more women, who said they Moonves harassed or assaulted them between 1980 and the early 2000s.

Farrow, whose reporting about Hollywood mogul Harvey Weinstein helped spark the #MeToo movement, quotes them as saying that Moonves forced them, at times violently, to perform oral sex on him, or that he exposed himself to them.

The company also announced that it had ended a lawsuit pitting network heads against the Redstone family, whose members control an 80 percent voting stake in CBS.

The Redstone, who had wanted to merge CBS with the Viacom group -- which they also control -- sued CBS, saying the network had attempted to dilute their voting rights to a 20 percent share.

Moonves joined CBS in 1995 from Warner Bros. Television, where his team developed hit shows such as "Friends" and "ER." He was promoted to president and CEO of CBS Television in 1998 and became chairman in 2003. A one-time actor, his wife is the host of "Big Brother" on CBS.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION/BLOG/INTERVIEW

Hyderabad Encounter: A sentiment analysis of public mood on day of encounter

Sentiment analysis of twitter users revealed that they showered salutes on Hyderabad police for eliminating alleged gang rapists of the veterinary doctor but only a few believe in cops version of successive events leading to encounter....

Hyderabad Encounter: Time to review modern judiciary and restore people’s confidence

Its probably for the first time in the history of independent India, the parliamentarians, chief ministers and ministers in the Union and State governments are openly supporting an encounter. This indicates the people from top to bottom hav...

What happens to your outstanding loans if the bank falls?

... ...

Time for a change! Innovations to stop the growing plastic pollution

As the planet is drowning in plastic pollution, many new innovative approaches and solutions have emerged to effectively deal with the menace....

Videos

Latest News

Char Dham Shrine Management Bill passed in Uttarakhand Assembly

The state assembly on Tuesday passed the Uttarakhand Char Dham Shrine Management Bill, paving the way for the creation of a board to run the affairs of 51 temples across the state, including the four famous Himalayan shrines. Though the Ass...

Security clearance loophole allowed ex-NSA hackers to work for UAE

How do you keep a coveted top-secret U.S. government security clearance while working for a foreign spy service That question vexed U.S. intelligence operatives recruited to work as contractors for a secret United Arab Emirates hacking team...

SPECIAL REPORT-White House veterans helped Gulf monarchy build secret surveillance unit

In the years after 911, former U.S. counterterrorism czar Richard Clarke warned Congress that the country needed more expansive spying powers to prevent another catastrophe. Five years after leaving government, he shopped the same idea to a...

Soccer-My job is to make Watford players believe, says manager Pearson

Watford need organisation and belief to get out of the Premier League relegation zone, according to their new manager Nigel Pearson. The former Leicester City boss is Watfords third manager this season after Quique Sanchez Flores, who was s...

Give Feedback