Leslie Moonves will get no severance pay from CBS after an investigation of the former chairman and CEO found what the US media giant’s board says are “grounds to terminate for cause.”
Moonves could have been due a $120m payout after leaving the company in September in the wake of misconduct allegations first revealed in July.
But in a statement, the CBS board says that after completing the investigation into Moonves it has “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.”
The investigation also looked into “cultural issues at CBS.” It found, says the statement, 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.”
Among the “robust steps” the board says are now being taken to improve the working environment at CBS are the appointment of a “Chief People Officer” and retention of outside advisors “to develop other initiatives for promoting a workplace culture of dignity, transparency, respect and inclusion.”
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