Abuse charges force out CBS CEO.
Leslie Moonves, the powerful longtime chief executive of CBS, will resign his position in the wake of sexual assault allegations by at least a dozen women, said a person with knowledge of board members’ thinking, concluding a stunning fall for one of the nation’s top executives.
The announcement will come by this morning, said the person, who asked not to be identified because they were not authorized to talk about the matter publicly.
The news comes after weeks of negotiation over a potential settlement between Moonves and the CBS board. CBS chief operating officer Joseph Ianniello is expected to be named to the top job.
The amount of Moonves’ settlement was not disclosed, though some reports speculated it could reach as high as $100 million. The executive is one of the best-compensated in media, making $69 million last year, according to regulatory filings.
As part of the agreement, CBS and Shari Redstone’s controlling shareholder National Amusements are expected to end their lawsuit as Redstone agrees not to merge the broadcaster with Viacom. That move gives Moonves a victory in that arena; he sought to keep CBS operating as a separate concern.
Moonves had seemed bulletproof as of just six weeks ago, regarded as one of the entertainment world’s most sterling executives. But sexual misconduct allegations by six women in The New Yorker in July led to the board hiring outside lawyers to conduct an investigation into Moonves and activists calling for his removal. An additional six women alleged behavior that includes sexual misconduct, harassment and retaliation on the magazine’s Web site on Sunday.
Those allegations include forced oral sex, Moonves exposing himself
without consent and the use of physical violence and intimidation to silence the women. The women in
Sunday’s report echoed descriptions of a culture of downplaying accusations and promoting men even after the company settled allegations against them.
A CBS spokesman on Sunday sent The Washington Post a statement in response to the New Yorker story. “CBS takes these allegations very seriously. Our Board of Directors is conducting a thorough investigation of these matters, which is ongoing.” The spokesman declined to comment on any potential exit package.
Moonves has been with CBS since 1995 and has held the title of chief executive for the past 15 years. In early 2006 CBS became a separate entity as it split from Viacom, and has since been one of the most profitable in entertainment.