Getty Images
- CBS Corporation CEO and Chairman Leslie Moonves left the company in September after reports detailing sexual harassment and assault allegations from six women against the media executive.
- On Monday, The Wall Street Journal reported that Moonves would not receive any of his $120 million severance.
- An investigation found that Moonves violated company policies and intentionally refused to cooperate with the investigation.
- Moonves is worth an estimated $700 million and was one of the highest-paid CEOs in the US, according to Forbes.
Leslie Moonves, former CEO and Chairman of CBS Corporation who left the company in September after a wave of sexual assault and harassment allegations, will not receive any of his $120 million severance, the Wall Street Journal reported Monday.
Investigators concluded that CBS had grounds to terminate Mr. Moonves for violating company policies and intentionally not cooperating with the investigation, the CBS board of directors said in a statement obtained by the Journal.
Lawyers for the network previously said Moonves should not receive his severance because he "destroyed evidence and misled investigators" as he faced multiple sexual misconduct allegations, according to the New York Times.
The departure of Moonves from the company came after a report by The New Yorker detailing accusations against the media executive from six women. This followed CBS hiring multiple law firms to launch an investigation against Moonves in August, after six other women accused Moonves of sexual misconduct or harassment. Moonves has denied the allegations against him.
Moonves was one of the highest-paid CEOs in the US, thanks to a compensation package of cash, restricted shares and stock options worth $57 million in 2014, Forbes reported. He's worth an estimated $700 million.
CNBC had previously reported that the board was considering giving him a $100 million exit package, but CBS said in a statement that any severance benefits would be pending the results of an independent investigation.
Here's how Moonves made his $700 fortune.
Moonves worked as an actor in the 1970s, with small roles in TV series including "Gemini Man" in 1976 and "The Six Million Dollar Man" in 1977.
NBC Universal
Source: IMDb
He went on to take over Lorimar Television in 1989, which then merged with Warner Bros. Television.
AP Images
Source: CNN Money
In the early 1990s, Moonves developed hit TV shows including "ER" and "Friends" as president of Warner Bros.
AP Photo/Kevork Djansezian
Source: Money
See the rest of the story at Business Insider
See Also:
- 15 major companies that treat employees well, value customers, and invest in their communities
- How often you actually need to shower, according to science
- 7 smart pieces of advice on life and work successful people shared this year
SEE ALSO: Les Moonves, CEO of CBS, is out after 6 more women accused him of sexual harassment, assault
from Business Insider https://ift.tt/2oVhdxq
No comments:
Post a Comment