Disgraced CBS Chief Les Moonves will ‘Not Receive Any’ $120 Million Severance Payment After Firing

Disgraced CBS chief executive Les Moonves is not expected to receive a single dime of what has been reported to be north of a $120 million severance package, after an independent investigation into multiple allegations of sexual misconduct.

“We have determined that there are grounds to terminate for cause,” the CBS board of directors said in a statement according to The Wrap, The company pointed to 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.”

Indeed the news comes just a week after a 59-page report stated that Les Moonves “engaged in multiple acts of serious nonconsensual sexual misconduct in and outside of the workplace, both before and after he came to CBS in 1995,” says a report, published by the New York Times. 

Moonves joined CBS in 1995 and helped make it America’s most watched network, helping to shepherd hit TV shows like Survivor, How I Met Your Mother, and Big Bang Theory. He was first accused in July of sexual misconduct by six women, dating back decades. He staunchly denied these allegations. L.A. prosecutors didn’t charge Moonves for sex abuse crimes for alleged assaults.

Months later, the longtime TV titan was hit with a fresh round of accusations from six more women who told The New Yorker that Moonves forced them into unwanted sexual situations. Some said he hurt their careers when they refused his sexual advances.

Read the full statement from the CBS board of directors below:

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. Mr. Moonves will not receive any severance payment from the Company.

As a result of their work, the investigators also concluded that harassment and retaliation are not pervasive at CBS. However, the investigators learned of past incidents of improper and unprofessional conduct, and concluded that the Company’s historical policies, practices and structures have not reflected a high institutional priority on preventing harassment and retaliation. The investigation determined that the resources devoted to the Company’s Human Resources function, to training and development, and to diversity and inclusion initiatives have been inadequate, given the size and complexity of CBS’ businesses. Employees also cited past incidents in which HR and the Company did not hold high performers accountable for their conduct and protect employees from retaliation.

The Board, which includes six new members, and the Company’s new management have already begun to take robust steps to improve the working environment for all employees. Among other things, the Company appointed a new Chief People Officer, is actively engaged in ways to enhance and reimagine the Human Resources function, and has retained outside expert advisors to develop other initiatives for promoting a workplace culture of dignity, transparency, respect and inclusion. These efforts will continue to be a high priority for the Board and the Company’s management, and we will continue to work together to communicate with our workforce in that regard.

We would like to thank everyone who cooperated with the investigation and applaud CBS’ employees for remaining focused on their jobs during this very difficult time. We look forward to the people of CBS returning their full attention to the outstanding work that they do every single day.