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CBS says former CEO Leslie Moonves will not receive severance pay [MarketWatch]

CBS (CBS) 
Last cbs earnings: 11/12 08:00 am Check Earnings Report
US:NYSE Investor Relations: investors.cbscorporation.com
Company Research Source: MarketWatch
CBS's former CEO Moonves will not receive severance pay, company says CBS Corp. CBS, -2.56% CBS.A, -2.76% said late Monday its board of directors has completed an investigation of former Chief Executive Leslie Moonves, which determined that Moonves will not receive "any severance pay" from the media company since there are grounds to oust him for cause, including Moonves' alleged "willful and material malfeasance," lack of cooperation in the investigation, and breach of his employment contract, the company said in a statement making the rounds in social media and elsewhere. The investigation also unveiled that while harassment and retaliation were not "pervasive" at CBS, the company's practices "have not reflected a high institutional priority" on preventing those. The company has already begun to take steps to improve its working environment, CBS said. Moonves was forced out as Chairman and CEO of CBS in September after The New Yorker reported six women had accused him of sexu Show less Read more
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