ViacomCBS says ex-CBS CEO Moonves won’t get $120M severance

NEW YORK – ViacomCBS reported Friday that previous CBS CEO Les Moonves will not get his $120 million severance offer from his firing in 2018, ending a very long-running dispute more than the money.

Moonves was ousted in 2018 immediately after a corporation investigation into allegations of sexual misconduct spanning a few many years uncovered Moonves violated firm policy and did not cooperate with the investigation.

But Moonves challenged the final decision and his $120 million severance was set aside until eventually the subject could be resolved.

On Friday, New York-centered ViacomCBS stated in a submitting with the Securities and Exchange Commission that the issue had been solved, the arbitration dismissed, and the $120 million would be heading back to ViacomCBS in its entirety. It give no even more aspects.

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Moonves was one of television’s most influential figures, credited for turning all over the fortunes of CBS when he took about as leisure main in 1995. He experienced been 1 of the highest-compensated executives in the nation, earning about $70 million a calendar year at the close of his run with the organization.

He was ousted immediately after allegations from women of all ages who explained he subjected them to mistreatment which includes compelled oral sex, groping and retaliation if they resisted. Moonves has denied any allegations of non-consensual sexual intercourse.

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