Disgraced former CBS CEO Les Moonves, who’s been accused of sexual harassment and assault, has been denied the controversial $120 million severance package contained in his contract, the network’s board of directors announced on Monday.
The decision follows an investigation by two law firms into the allegations against Moonves which culminated in a graphic report that concluded that the company had ample of reasons to fire the television executive for cause, subsequently paving the way for it to withhold the whopping payout.
“With regard to Mr. Moonves, we have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation,” the statement said.
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