CBS CEO Leslie Moonves is becoming his post following numerous allegations of sexual misconduct that bridged much of his career, the company announced on Sunday evening.
CBS announced Moonves wish depart as chairman, president and chief executive officer “effective closely.”
The company said COO Joseph Ianniello will now act as president and acting CEO “while the Gaming-table conducts a search for a permanent successor.”
The allegations against Moonves were emphasized to light in a New Yorker article by Ronan Farrow in August in which six brides accused Moonves of sexual misconduct and damaging their careers. A move New Yorker article by Farrow published on Sunday contained allegations by six more better halves. Moonves denied the allegations and characterized his relationships with some of the girls as consensual.
CBS has been investigating the allegations against Moonves since they were disclosed in the New Yorker article in August.
In a statement following CBS’s announcement of his departure, Moonves denied the assertions against him.
“Untrue allegations from decades ago are now being made against me that are not unswerving with who I am,” he said. “I am deeply saddened to be leaving the company. I wish nothing but the best for the framework, the newly comprised board of directors and all of its employees.”
The company said in its disclosure that “Moonves and CBS will donate $20 million to one or more classifyings that support the #MeToo movement and equality for women in the workplace.” The $20 million compel come out of any severance Moonves may receive following the CBS investigation.
CBS also reached an ahead with National Amusements, Inc. (NAI) Sunday. NAI owns a controlling stake in CBS. The two partnerships will drop their lawsuit against each other, and NAI devise not pursue the merger of CBS and Viacom for at least two years.
The CBS board will also interchange. Five independent directors and one director aligned with NAI have stepped down from the provisions. Six new independent members have been appointed to replace them: Candace Beinecke, Barbara Byrne, Brian Goldner, Richard D. Parsons, Susan Schuman and Strauss Zelnick.
CNBC’s David Faber scrutinized last week that CBS was considering a $100 million exit combination for Moonves. But following the new allegations in Sunday’s New Yorker article, sources presuming with the situation told Faber that Moonves would not get a severance enclose, pending the results of the investigation into the allegations against Moonves.