CBS Says Les Moonves Will Not Receive $120 Million Severance

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CBS’s Company Board Decided Today “The Board of Directors of CBS has completed its investigation of former Chairman and CEO Leslie Moonves, CBS News, and cultural issues at CBS,” the company said in a statement Monday. “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.”

Moonves is expected to take legal action in regards to not getting the payout he anticipated.

The New York Times revealed that Moonves had destroyed evidence and misled investigators in an effort to protect his reputation.

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