CBS CEO Les Moonves to step down amid sexual misconduct allegations

Eloise Marshall
September 10, 2018

The New Yorker said Moonves had, in a statement, acknowledged three of the encounters but said they were consensual and occurred "before I came to CBS". Now it has done the same for Leslie Moonves, one of the television industry's most powerful executives.

Joseph Ianniello, an 13-year CBS veteran who has been the company's chief operating officer since 2013, has been appointed president and acting CEO, filling Moonves' post at least temporarily.

Times Up said in a statement on Sunday afternoon, "We will accept nothing less than full transparency of the investigation's findings, a commitment to real change across all levels of CBS management and no reward for Les Moonves". Insiders say they did their best to focus on the work of running a media company with a $21 billion market cap. "And this I know is true to the core of my being: Women can not achieve equality in the workplace or society until there is a reckoning and a taking of responsibility". Last month, Moonves hired prominent litigator Petrocelli to represent him in connection with CBS' internal probe. The article followed a similar New Yorker report from July.

Financial news network CNBC said the talks are now near completion, with both parties hoping to complete them by Monday, before the stock exchanges open.

Allred told Reuters she is representing two clients in the matter who are willing to cooperate with an ongoing independent investigation, "and I do think it is important that the board receive a report".

The woman interviewed in the latest story alleges sexual harassment or assault by Mr Moonves between the 1980s and the first decade of this century. Also, Moonves and CBS will donate $US20 million to "one or more organisations that support the #MeToo movement and equality for women in the workplace". A striking woman, she does not look her age.

Following the New Yorker report in August, Moonves said he regretted "immensely" making some women uncomfortable by making advances, but added that he abided by the principle that "no" means "no", and stated he had never misused his position to harm or hinder anyone's career.

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Five current independent directors and one National Amusement-affiliated director have stepped down from the board of directors and 6 new directors have been elected, the company said.

CBS had been investigating Mr Moonves since allegations appeared in the New Yorker in July - and fresh accusations from six more women have appeared.

She added that she was proud to work at CBS News.

CBS chair, president, and CEO Les Moonves-who continued to play an active role in CBS' reality TV shows, including approving final casts of shows such as Big Brother and Survivor-was effectively fired by CBS today after six more women said he sexually harassed and violently assaulted them, and then retaliated, ruining their careers.

The news of Moonves stepping down comes as it's been reported he's likely to land an around $100 million parting gift. But if he is removed "for cause", relating to the harassment allegations, for example, such an eye-popping severance package would not be in play.

The police found her accusations credible, according to Farrow, but told her the statutes of limitation for the crimes had expired because the alleged abuse took place too long ago.

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