Leslie Moonves officially out at CBS
By Matt Collins Article may include affiliate links
CBS Corp. CEO and chairman is officially out.
- CBS issued a statement late Sunday, Sept. 9, 2018, say that Moonves is no longer with the company, effective immediately.
- Chief Operating Officer Joseph Ianniello will serve as president and acting CEO while the board conducts a search for a permanent successor.
— TVNewsMix (@TVNewsMix) September 10, 2018
- CBS will not fill the chairman position until a permanent CEO is named.
- Moonves and CBS will donate $20 million “to one or more organizations that support the #MeToo movement and equality for women in the workplace” immediately.
- According to CBS, the donation has been deducted from any severance benefits that may be due Moonves.
- Moonves will not receive any severance benefits at this time, other than certain fully accrued and vested compensation and benefits.
- Any payments to be made in the future will depend upon the results of the independent investigation and subsequent board evaluation.
- In addition, CBS also announced a settlement in its ongoing dispute with National Amusements.