Disgraced former CBS CEO Les Moonves has been denied his severance payment by the company due to his alleged sexual misconduct.
According to Page Six:
CBS said it will deny Les Moonves a $120 million severance package, saying the former chief executive tried to conceal evidence and misled the company during the months-long probe into sexual misconduct accusations against him.
“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,” the board said Monday.
“Mr. Moonves will not receive any severance payment from the company.”
In September, Moonves stepped down as chairman and CEO amid sexual misconduct accusations from a dozen women published first by Ronan Farrow in The New Yorker.
The violation of the company’s sexual harassment policy is what made him ineligible for his severance.