NEW YORK: CBS announced Monday that former CEO Les Moonves will not receive his $120 million severance package after an investigation determined he failed to fully cooperate with an investigation into sexual misconduct allegations.
A lawyer for Moonves rejected the decision as “baseless” but did not say whether the former CEO would formally challenge it.
Moonves was ousted in September after allegations from women who said he subjected them to mistreatment including forced oral sex, groping and retaliation if they resisted.
New York-based CBS Corp. said at the time of his departure that it had set aside $120 million in severance for him but warned that he would not get the money if the board concluded it had cause to terminate him.
A statement from the board cited Moonves’ “willful and material misfeasance, violation of company policies and breach of his contract, as well as his willful failure to cooperate fully with the company’s investigation.”
The board did not provide details. Earlier this month, The New York Times said a draft report from the outside investigation found Moonves committed “multiple acts of serious nonconsensual sexual misconduct.” Citing the report, the Times said he deleted numerous text messages and was “evasive and untruthful at times.” The investigators have declined to comment on the details of the Times report.
Andrew Levander, an attorney for Moonves, said his client “vehemently denies any non-consensual sexual relations and cooperated extensively and fully with investigators.”
“The conclusions of the CBS board were foreordained and are without merit,” Levander said in a statement. “Consistent with the pattern of leaks that have permeated this ‘process,’ the press was informed of these baseless conclusions before Mr. Moonves, further damaging his name, reputation, career and legacy.”
Three major figures at CBS have lost their jobs over misconduct allegations: Moonves, “60 Minutes” top executive Jeff Fager, and news anchor Charlie Rose.
The board said 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.”
But the investigation, conducted by two outside legal firms, “also concluded that harassment and retaliation are not pervasive at CBS,” the board said.
The board said it has “already begun to take robust steps to improve the working environment for all employees.”
CBS denies former CEO Les Moonves $120 million severance
CBS denies former CEO Les Moonves $120 million severance
- CBS said at the time of his departure that it had set aside $120 million in severance for him but warned that he would not get the money if the board concluded it had cause to terminate him
Saudi-US roundtable meeting held to strengthen economic relations
RIYADH: The Saudi-US Roundtable was held in Riyadh on Jan. 20, coinciding with the ninth session of the Saudi-US Trade and Investment Association, organized by the General Authority for Foreign Trade.
The meeting was attended by the Deputy Governor of International Relations at GAFT Abdulaziz Al-Sakran and the Secretary General of the Federation of Saudi Chambers Waleed Alorainan. It was also attended by the President and CEO of the Saudi-US Business Council Charles Hallab and representatives from government agencies, as well as 83 private sector companies.
The meeting reviewed ways to strengthen economic relations between Saudi Arabia and the US. It also explored opportunities for trade and investment cooperation in various sectors that play a fundamental role in developing trade ties and increasing bilateral trade volume, which reached approximately $33 billion in 2024.
Al-Sakran indicated that the roundtable meeting comes within the framework of the authority’s keenness to enhance the role of the private sector in developing trade relations by enabling it to access foreign markets and removing all external obstacles it faces, in coordination with relevant entities.
He noted that trade relations between the Kingdom and the US have witnessed significant economic activity, resulting in a trade volume exceeding $500 billion over the past decade.
It is worth noting that GAFT works to develop bilateral trade relations by overseeing business councils and coordination councils. In addition, it enables Saudi Arabia’s non-oil exports to access foreign markets and helps overcome the various challenges they face.
