Moonves Keeps His Job For Now as CBS Looks for Independent Investigator

CBS faces major challenges if CEO Les Moonves is sidelined while the CBS board investigates sexual harassment allegations against him.

Following Monday's board meeting, CBS announced that it postponed the company's 2018 annual meeting of stockholders that was previously scheduled for August 10 until further notice. The accusations, published in The New Yorker on Friday, included claims of groping, forced kissing, and retaliation. The CBS board of directors is set to meet later today to consider its options amid the growing crisis.

Early trading shows CBS's shares are down almost 4 percent at around $52.00 at 7:10 am PST after tumbling 6 percent Friday following the release of Ronan Farrow's bombshell expose, in which six women accused Moonves of sexual harassment dating back more than two decades. "The malicious insinuation that Ms. Redstone is somehow behind the allegations of inappropriate personal behavior by Mr. Moonves or today's reports is false and self-serving", she said, calling for a "thorough, open and transparent" investigation.

But he added that he had "never misused my position to harm or hinder anyone's career".

In a statement to The New Yorker that was also obtained by CNN, Moonves said he has "promoted a culture of respect and opportunity for all employees" throughout his tenure at CBS.

Moonves, 68, is one of the global media industry's highest-paid executives and could receive a severance package of more than $180 million based on his contract and the terms of his departure, according to CBS filings with the U.S. Securities and Exchange Commission.

3 dead, 7 wounded after gunmen in New Orleans fire on crowd
The injured victims have been taken to hospital, although their conditions are not known. Police asked the community to share any information they may have about the shooting.

Leslie Moonves, president and CEO of CBS Corporation speaks at the Wall Street Journal Digital Live conference at the Montage hotel in Laguna Beach, California, US October 21, 2015.

CBS shares plunged on news of the company's investigation.

Dinah Kirgo shared a similar story in which Moonves feigned interest in a business meeting only to pursue a dinner with her alone.

The allegations come as Moonves is in a power struggle with majority shareholder of both CBS and Viacom, Shari Redstone.

The statement from the board also did not address claims in The New Yorker about the culture at "60 Minutes" and its executive producer Jeff Fager.

Six former employees told Farrow that Fager would touch employees in ways that made them uncomfortable at company parties, and in one instance made a drunken advance toward one junior staffer. He is the latest Hollywood bigwig to be accused of sexual misconduct.

Related news:

Hot News

isis-killer-beheading-video-story-top Garrigus shows way in Canadian Open
Jul 30, 2018 - 01:02
Other Canadian PGA Tour members in the field are Mackenzie Hughes , Corey Conners, Nick Taylor , David Hearn and Mike Weir . A year ago at Glen Abbey, Garrigus shot a 10-under 62 in the third round to match the course record.

isis-killer-beheading-video-story-top Putin Says He's 'Ready' to Go to Washington
Jul 30, 2018 - 01:00
Interfax quoted Putin as saying he is ready to visit Washington "if the appropriate conditions are created there". Last week, just days after they met in Helsinki , Trump invited Putin to Washington for a second sit-down .

isis-killer-beheading-video-story-top Priyanka Chopra introduces Nick Jonas to royal couple
Jul 29, 2018 - 02:12
Now, the reports also claim that the couple is already engaged and it all happened during her birthday in London recently.

isis-killer-beheading-video-story-top Flash flood watch into early Tuesday for Northern Virginia
Jul 28, 2018 - 01:07
With that in mind, the National Weather Service has issued a Flash Flood Watch for the Sandhills right through early Wednesday . Daily high temperatures should swell to the 80s and perhaps near 90 by the weekend; nightly numbers will settle to the 70s.

isis-killer-beheading-video-story-top Froome crashes post-stage after police mistake him for fan
Jul 28, 2018 - 01:05
Team Sky told media there was a misunderstanding after the stage as Froome rode back down a hill to his bus. It was a gift, but Alaphilippe didn't care as he cruised to his second stage win of this year's Tour.

isis-killer-beheading-video-story-top Facebook blocks Infowars’ Alex Jones from posting for 30 days
Jul 28, 2018 - 00:59
Both pages published new posts on Friday morning, with Jones appearing on a livestream on the Infowars page. Facebook has imposed a 30-day suspension on Alex Jones - founder of the InfoWars conspiracy theory site.

isis-killer-beheading-video-story-top Liverpool Must Win After Spending Heavily - Jose Mourinho
Jul 28, 2018 - 00:50
On came Salah - scorer of 44 goals for the club last season - and he caused chaos with his pace, direct running and eagerness. Dominic Solanke got to the ball first but was crudely bundled over and the Reds had a spot-kick, on 94 minutes to settle it.

isis-killer-beheading-video-story-top USA senators push sanctions to send Putin election meddling warning
Jul 27, 2018 - 10:04
Congress had still to vote on the modifications to the legislation which would then be signed by Trump into law. In Wednesday's White House statement, Bolton indicated the Mueller probe would be over by January 1.

isis-killer-beheading-video-story-top Trump says NAFTA deal with Mexico must happen fast
Jul 27, 2018 - 10:01
Guajardo is due to meet his Canadian counterpart Chrystia Freeland on Wednesday, also to discuss NAFTA. One question asked respondents for their biggest national security concern.

isis-killer-beheading-video-story-top Netanyahu to discuss situation in Syria with Lavrov, Russian general staff chief
Jul 25, 2018 - 02:05
White Helmets head Raed Saleh said the evacuated workers had arrived in Jordan after being "surrounded in a unsafe region". Meanwhile, Israel said it fired a pair of missiles to intercept two missiles fired from Syria in Israel's direction.

isis-killer-beheading-video-story-top Tesla: asking suppliers for cash back is 'standard' negotiating strategy
Jul 25, 2018 - 01:17
Elon Musk , Tesla's chief executive, wrote on Twitter on July 23: "Only costs that actually apply to Q3 & beyond will be counted". The leak came soon after Tesla announced it was cutting several thousand jobs as part of an effort to reduce costs.

isis-killer-beheading-video-story-top Sony IMX586 Smartphone Camera Sensor With 48 Effective Megapixels Resolution Launched
Jul 25, 2018 - 01:04
A 0.8 micron pixel size might seem small and less efficient in capturing the entire light information, especially in low light. The enhanced MP count should give smartphone uses the ability to take SLR-quality images with lossless digital zoom.

isis-killer-beheading-video-story-top Johnny Manziel of Hamilton Tiger-Cats traded to Montreal Alouettes
Jul 24, 2018 - 01:36
Although, Manziel didn't end up playing for Sherman, as the coach was replaced after Manziel's redshirt freshman season. Sherman has expressed his excitement with reuniting with Manziel, who will likely get his chance to play in Montreal.

isis-killer-beheading-video-story-top Lewis Hamilton risks being stripped of German GP win
Jul 23, 2018 - 01:40
Auto Motor und Sport said one analysis showed that between one race and the next, the increase was nearly 40 horse power. I just slowed down and trundled over some grass and made sure I joined the track as safe as I could.

isis-killer-beheading-video-story-top Ambiguous comments from homeland chief on election meddling
Jul 22, 2018 - 01:30
It took the president several attempts to walk back his comments, amplifying the fallout from his joint appearance with Putin. In May, she said she was unaware of intelligence assessments concluding that the Kremlin was clearly playing favorites.