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Thread: Les Moonves out as CEO of CBS

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    Elite Member sprynkles's Avatar
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    Default Les Moonves out as CEO of CBS

    Kind of huge news.


    4:30 PM PT -- It's just been announced Moonves is out at CBS, and the network is implementing a big shakeup on its board of directors through a company-wide settlement. Interestingly, CBS says $20 million will be donated on Moonves' and the network's behalf to an org that supports #MeToo, which is set to be made immediately. The cash will come out of any severance benefits owed to Moonves following a pending investigation into his alleged misconduct. The company also notes that Moonves will not be getting any type of severance package at this point, but may receive further payment once its investigation is wrapped and after a final evaluation from the Board.
    CBS's longtime CEO, Les Moonves, is reportedly resigning from his position as head of the network after multiple allegations of sexual misconduct.

    Citing sources familiar with the matter, CNN's Brian Stelter reported Sunday that Moonves would be stepping down and that the official announcement would be made either Sunday night or early Monday morning. This comes on the heels of a second New Yorker article by Ronan Farrow where six additional women accused Moonves of sexual misconduct.
    The allegations range from Moonves allegedly forcing oral sex on certain women, exposing himself without permission to others ... and allegedly using physical violence or intimidation against them.

    He'd already been accused of sexual misconduct from 6 separate women earlier this summer -- including allegations of sexual assault from the 1980s ... for which he will not face criminal charges. Ronan wrote that earlier piece as well.

    Moonves has worked at CBS since 1995, where he first served as president of CBS Entertainment. He served as CEO of CBS Television from '98 to 2003, and was eventually bumped up to chairman and CEO of the entire company in 2003. He's responsible for greenlighting series like 'CSI,' 'Without a Trace,' 'NCIS,' 'Survivor,' 'Cold Case' and many, many other hit shows.

    Reports have recently said that Moonves and the CBS board were negotiating an exit package for him somewhere in the ball park of $100 million. Stelter says exit talks have been finalized, but did not report on any specific figure.

    Les Moonves Out as CBS' CEO Following Sexual Misconduct Allegations | TMZ.com

    "A massive penis means never having to say you're sorry". Mo

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    Elite Member sprynkles's Avatar
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    "A massive penis means never having to say you're sorry". Mo

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    Elite Member louiswinthorpe111's Avatar
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    I guess the allegations were true....
    RELIGION: Treat it like it's your genitalia. Don't show it off in public, and don't shove it down your children's throats.

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    Elite Member MohandasKGanja's Avatar
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    I was actually really surprised when the story with the first women came out. Just be looks and demeanor, and no rumors that I was aware of, he did not seem like a Harvey Weinstein. But there were 6 women and it was written by Farrow, so I believed it.

    With 6 additional women now? I think the stories are going to keep coming and coming. The only thing that will probably stop them is that this guy will go into permanent retirement and additional transgressions will be deemed less newsworthy.

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    Elite Member sprynkles's Avatar
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    I might have to try and watch The Talk for the first time tomorrow. I wonder if Mrs. Moonves will be there?
    DawnM74 likes this.

    "A massive penis means never having to say you're sorry". Mo

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    And...another one bites the dust!

    I wonder who is next?

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    Gold Member dilligaf's Avatar
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    Hoping we won't have to endure the Mrs. On Big Brother anymore.
    DawnM74 and Mrs P like this.

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    Elite Member teforde23's Avatar
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    Well Julie's career is over. Good. It seemed like CBS kept shoving her no talent ass in our face for years
    DawnM74 likes this.

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    Elite Member lindsaywhit's Avatar
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    ^I actually like her on The Talk.
    pinkbunnyslippers likes this.


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    Elite Member MohandasKGanja's Avatar
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    I can see how people can find Chen annoying. I don't have anything against her particularly, unless she knew what Les was up to.
    weathered1 likes this.

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    Elite Member ShimmeringGlow's Avatar
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    I read Ronan Farrow's original piece and I was surprised that nothing came of it because Moonves was still in place. I guess things were going on behind the scenes. The new allegations are worse than the first set. He shouldn't receive a settlement.

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    Elite Member gas_chick's Avatar
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    The guy is a giant asshole so no shock here for me. I'm just glad they kicked him to the curb.
    I am going to come and burn the fucking house down... but you will blow me first."

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    Elite Member MohandasKGanja's Avatar
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    Quote Originally Posted by ShimmeringGlow View Post
    I read Ronan Farrow's original piece and I was surprised that nothing came of it because Moonves was still in place. I guess things were going on behind the scenes. The new allegations are worse than the first set. He shouldn't receive a settlement.
    This situation, and others, makes me wonder if companies and studios have added, or are adding, morals clauses to contracts for incoming CEO's. A guy like Moonves (and Aisles) will cost their companies tens of millions of dollars in litigation and civil penalties.

    The two ways of handling that (and preventing this in the future) would be a morals clause that causes a forfeiture of salaries, bonuses, stock options if the exec costs the company in lawsuits. (However, there are lawsuits that do get dismissed.) The second way would be to buy some kind of insurance against the CEO in case a bunch of these lawsuits and claims happen. An insurance company would demand a rigorous and comprehensive HR policy to protect itself if it did give out that kind of insurance.
    DawnM74 and greysfang like this.

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    Elite Member MsDark's Avatar
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    Last week Sharon Osbourne was on Howard and he tried to ask her about what was going on with Julie (who was apparently supposed to be there and, big surprise, pulled out) and she played dumb.
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