Economy

Les Moonves, head of media giant CBS, resigns amid sexual misconduct claims

Les Moonves, head of media giant CBS, resigns amid sexual misconduct claims

On Sunday, The New Yorker published another damaging #MeToo investigative piece by Ronan Farrow - the reporter who helped break the Harvey Weinstein story - detailing the allegations of six more women who are accusing Moonves of sexual misconduct, a follow-up to Farrow's previous report presenting the accusations of six other women against the CEO.

After Moonves' exit was announced and CBS said he wouldn't be getting any severance for the time being, Bloom posted a new message: "Good".

On Sunday, CBS announced it had reached a settlement with Moonves, a 24-year veteran of the company, and that he and CBS will donate $20 million to organizations that support the #MeToo movement.

Now that CBS Corporation chief executive Les Moonves has stepped down, the company wants to shake off the scandal and move on. The chairman position will remain open until a new CEO is selected.

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The response was so strong that Farrow has published a follow-up to his exposé, featuring testimony from six additional women who said that Moonves forced them to perform oral sex, solicited sexual favors from them, and then used harassment and coercion to intimidate them into silence.

In the new report, the accusers, who give their names, describe a range of damning actions.

Golden-Gottlieb says she tried to avoid being alone with Moonves, but one day he allegedly exposed himself to her in his office, causing her to run out. She filed a criminal complaint with the LAPD in 2017. Two told me that Moonves physically intimidated them or threatened to derail their careers.

"A man accused of rigorously reported allegations of harassment should not be rewarded with a golden parachute", said Time's Up, the group that sprung from last year's outpouring of workplace harassment claims. Other women describe forced kissing, groping, propositions, with numerous encounters taking place during work time, as well as later efforts to harm careers. In a statement to the magazine, he acknowledged three of the encounters, but said they were consensual.

"Man, who would have expected the ride we're all having right now?.The money's rolling in and this is fun", Moonves said at the 2016 Morgan Stanley Technology, Media & Telecom Conference. However, this is an important time in our culture and just because this hits close to home, it doesn't change the story.

Farrow first reported in July that several women had accused the media titan of harassment that spanned decades.

CBS Corp. also oversees the publishing house Simon & Schuster and the premium cable network Showtime.

In August, CBS hired two law firms to investigate allegations of sexual assault and unwanted advances following a New Yorker report that featured claims against Moonves from six women spanning different periods over two decades, from 1985 to 2006.

The deal also included the resignation of six board directors and the election of six new directors. Last week, multiple news outlets reported that Moonves was negotiating a possible exit with independent directors of CBS' board. Moonves stands to earn upward of $100 million on his way out, but the compensation will be deferred until the harassment investigations are completed, some of the sources said. No severance amount was cited in Sunday's announcement.

"Today's resolution will benefit all shareholders, allowing us to focus on the business of running CBS and transforming it for the future", Redstone said.


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