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Home / Business / CBS and Les Moonves show greatness with "business as usual" attitudes

CBS and Les Moonves show greatness with "business as usual" attitudes



CBS CEO Les Moonves had the opportunity on Thursday to speak with the investment community about allegations of sexual misconduct stemming from an eight-month investigation by Ronan Farrow for The New Yorker.

Equity analysts covering CBS are picking up heat because they refused to press Moonves with the company during the question and answer section of the call about his future. Even the BTIG analyst Rich Greenfield, who was not called by the management, called the display of his colleagues "

".

Moonves has already admitted that he did something wrong in New York history.

"I recognize that a few decades ago some women made it uncomfortable to make progress, these were mistakes and I regret But I have always understood and respected – and kept to the principle – that" no "" no "means, and I've never used my position to harm or hinder anyone's career."

(New York history goes on to illustrate several allegations of Moonves abusing his position for careers to harm and hinder.)

So why was Moonves in the first place?

It is a demonstration of the power of a person who is sure enough (or wants to

A PR chief, who would not speak in the minutes because of possible conflicts, said Moonves had only been able to join the phone yesterday A CBS spokesman declined to comment on why Moonves had opted for the call.

However, it seems that CBS's short-term strategy is simply ignoring the story During the week, the CBS board met to decide what to do with the allegations – the result – an announcement that they had hired law firms to conduct their own independent investigations.

This approach of persistent resistance helped Moonves He refused to keep his job rejecting Shared Redstone's attempt to bring CBS and Viacom together earlier this year, and then went one step further and urged, Redst ones to reduce election control over the company from 80 percent to 17 percent.

"He bids he can swing enough Board votes on his way and continue with the lawsuit," said Eric Jackson, founder and president of EMJ Capital Ltd.

The #Metoo movement has knocked out several CEOs – Harvey Weinstein, Steve Wynn, and even Intel's Brian Krzanich, who stepped down after a friendly relationship with a subordinate. More than 400 "high caliber executives and employees from all sectors and industries have been outed by the #Metoo movement in 18 months," said crisis advisor Temin & Co.

But when Moonves, 68, was worried about his loss, Job over # MeToo, he probably would have made a lighter exit. He could have said yes to a deal with Viacom and would have retired as part of the transaction before the New York story appeared.

But he fought the deal and even knew that Farrow's article was in progress. This suggests that he thinks he can beat that. His actions on the merit call were more the same.


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