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CBS to Terminate Moonves for Cause, Won’t Pay $120m Severance
Moonves’ grounds for termination include willful and material misfeasance, violation of Company policies and employment contract.
18 Dec 2018, 07:56 AM IST 
Leslie Moonves, president and chief executive officer of CBS Corp., speaks during an interview in New York, U.S. (Photographer: Daniel Acker/Bloomberg)
(Bloomberg) -- CBS said in a statement that it completed its investigation of former chairman and CEO Leslie Moonves, and found that there were grounds to terminate him for cause.
- Co. said Moonves will not receive any severance payment
- Grounds include "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"
- Investigators also concluded that resources devoted to Human Resources, training and development, and diversity and inclusion have been inadequate
- NOTE: Earlier, CBS Moonves Decision Is Said to Come Soon, With Payout Unlikely
To contact the reporter on this story: Molly Kissler in New York at mkissler@bloomberg.net
To contact the editor responsible for this story: Lauren Berry at lberry4@bloomberg.net
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