What to Know
- CBS CEO Leslie Moonves will leave his post, following several allegations of sexual misconduct that spanned much of his career.
- The allegations came from 12 women in two New Yorker articles by reporter Ronan Farrow.
CBS CEO Leslie Moonves is leaving his post following numerous allegations of sexual misconduct that spanned much of his career, the company announced on Sunday evening.
CBS announced Moonves will depart as chairman, president and chief executive officer "effective immediately."
The company said COO Joseph Ianniello will now act as president and acting CEO "while the Board conducts a search for a permanent successor."
The allegations against Moonves were brought to light in a New Yorker article by Ronan Farrow in August in which six women accused Moonves of sexual misconduct and damaging their careers. A second New Yorker article by Farrow published on Sunday contained allegations by six more women. Moonves denied the allegations, and characterized his relationships with some of the women as consensual.
CBS has been investigating the allegations against Moonves since they were published in the New Yorker article in August.
"Moonves and CBS will donate $20 million to one or more organizations that support the #MeToo movement and equality for women in the workplace," the company said on Sunday.
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CNBC's David Faber reported last week that CBS was considering a $100 million exit package for Moonves. But following the new allegations in Sunday's New Yorker article, sources familiar with the situation told Faber that Moonves would not get a severance package, pending the results of the investigation into the allegations against Moonves.
This story is developing. Check back for updates.
CBS deep in talks with Les Moonves to exit, say sources from CNBC.
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