CBS Says No $120M Severance For Les Moonves; Terminated For Cause, Declares Board
Given the number and heinous nature of the complaints , the CBS Board had only the illusion of a choice here. I also find the existence of a 120m dollar severance package appalling but that’s a different story. That it’s not surprising makes it an insane, different story.
Good. Honestly it's the only thing the board could do given all that has come out. Given the level of complicity within the org including at the board level the question should be what are tbey doing to ensure things change going forward.
Right move by the Board. The question is does Moonves have the chutzpah to contest or sue? My thoughts and prayers are with all those affected by his abhorrent behavior.
If the draft of the report hadn’t been leaked, I fear CBS might not have withheld all the money; good move and result even if the process was a bit floored.
Kudos to NYT reporting for being on top of this story so it didn't get buried
Now CBS needs to step up and donate that money. They don’t deserve to keep it either. We need a #stepupCBS movement to put some serious pressure on them.
That’s good news.. $120 mil. So redicu’LES’ anyway
So Les does not get an additional $120m on top of his massive career earnings. What do his direct and indirect victims get? They can’t get their careers back let alone the financial compensation they potentially would have earned had he not taken advantage of his powerful position.
Sad that we all have to be noting/celebrating the decision in the headline. Should be a matter-of-fact no-brainer.
Les is a good friend of mine, quite unfortunate.
I’m just as torqued up at the board of directors that would approve a contract with such an exorbitant severance package. And for a person with such a flawed character and poor decision making skills (assuming the accusations are true). The stockholders should be looking for the heads of some board members
I’m just as torqued up at the board of directors that would approve a contract with such an exorbitant severance package. And for a person with such a flawed character and poor decision making skills (assuming the accusations are true). The stockholders should be looking for the heads of some board members. There are a lot of very smart people out there that could do a much better job managing that company for far less money. This whole thing was wrong on many levels.
We can thank the NYT and their article which outlined the details of the investigation. Had the details not been made public, the money would already be sitting in Les' bank account.
I guess more people need to follow the Pence Protocol.
Justice to all who have been harmed.
The CBS board did the right thing. They completed their due diligence and took action. Bad behavior should not be rewarded. Period.
Amazing job denying the payment 😊
É isso, chega de cheque gordo de saída para executivos em delito
Shows one pays for transgressions.
Damn, that’s a lot of $$ 😂
If the board had clean hands, exercised due diligence and a severance policy which included morals and crimes as barriers to severance, the org would be a role model.