Les Moonves Resigns As CEO of CBS After Sexual Assault Allegations

TMZ.com is reporting that long time CEO of the CBS Network, Les Moonves, is resigning amidst a total of 12 women accusing him of sexual misconduct. 

Early this summer, 6 different women accused Moonves of some sort of sexual misconduct, from forced oral sex to using intimidation to get sexual favors. 

Moonves denies these allegations.

According to the report, Moonves is negotiating a severance package worth close to $100 Million dollars (yikes!). However, that severance will not be paid out until a full internal investigation is done on CBS’ behalf. 

CBS has also committed $20 Million to the #MeToo movement. 

Moonves has released a statement: 

“Untrue allegations from decades ago are now being made against me that are not consistent with who I am.  Effective immediately I will no longer be Chairman and Chief Executive Officer of CBS. I am deeply saddened to be leaving the company. I wish nothing but the best for the organization, the newly comprised board of directors and all of its employees.”

Les Moonves

There is a major shakeup happening at CBS as many of their Board of Directors have stepped down. Viacom has also suspended it’s pending merger with CBS until at least 2 years after the settlement is finalized between Moonves and CBS.

It’s important to note that many of these allegations are over 20 years old. 

Commentary: I am curious as to who CBS will have take on the role of Chief Executive. My money is that a woman will end up taking that role in hopes that they are able to showcase the pendulum swinging toward female leadership. 

An interesting note that CBS has committed $20 Million to the Me Too movement. I find it a cheap (yet expensive) attempt at trying to make themselves look less evil and complicit. 

It’s sick thinking that Moonves could potentially walk away with $80 Million if these allegations are true.