Former CBS CEO Leslie Moonves fired by the network, losses $120 million severance package

One of the biggest names in US media circle and CEO of the CBS Corp, Leslie Moonves who has been dogged by accusations of sexual harassment and assault has lost his $120 million severance package after he was fired by the network.

Following the review of findings from an investigation two law firms
hired by CBS to look into Moonves’ behaviour and the culture within the CBS, the company's board of director decided against granting the former chief executive his severance package, with a potential legal battle with Moonves hanging over the network.

The board of directors said in a statement, “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,” without making public, details of the investigation.

However, there's no certainty whether Mr. Moonves would seek legal action against the CBS network over his the loss of his huge page out but in a statement released by his attorney, Andrew Levander, he denied any wrongdoing and has described as consensual, his sexual escapades.

“Mr. Moonves vehemently denies any non-consensual sexual relations and cooperated extensively and fully with investigators,” the statement said adding that conclusions arrived at by the CBS board were “foreordained and are without merit.”

The CBS board said investigators also discovered that its policies and practices failed to prevent past incidents -- though it harassment and retaliation were not widespread-- and to hold “high performers” accountable for their conduct.




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