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No generous severance package for former CBS Corp. chairman and CEO Leslie Moonves.
The CBS board of directors announced Monday that it has completed its investigation into the myriad allegations of sexual misconduct against its former chief and has decided there are grounds to “terminate for cause.” The most recent hit against the embattled executive came last month in the New York Times, which quoted a former actress named Bobbie Phillips who alleged that Moonves forced himself on her in 1995, when he ran Warner Bros. Television.
Story - Months - Bombshell - Report - New
The story came almost three months after a bombshell report in The New Yorker about six women who accused the CEO of harassment and intimidation. Moonves ultimately stepped down as CEO while the company hired a team to look into the allegations, as well as the culture at CBS.
Here’s the board’s full statement:
Board - Directors - CBS - Investigation - Chairman
“The Board of Directors of CBS has completed its investigation of former Chairman and CEO Leslie Moonves, CBS News, and cultural issues at CBS.
“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.
Result - Work - Investigators - Harassment - Retaliation
“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...
(Excerpt) Read more at: EW.com
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