CBS to Terminate Moonves for Cause, Won’t Pay $120m Severance
(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
©2018 Bloomberg L.P.