The Board of CBS Corp. will investigate allegations of sexual misconduct raised against CEO Leslie Moonves in a New Yorker report due to be released today. The status of Moonves as CEO remains unchanged, with independent members of the CBS Board currently giving their full support to Moonves and the rest of his management team.
"Allegations of personal misconduct are to be taken seriously, and CBS independent directors have committed themselves to investigating claims that violate the Company's clear guidelines in this regard," the Board said in a statement. After completing this investigation, which contains recent allegations that date back several decades, the Board will review the findings promptly and take appropriate action.
"The timing of this report comes amidst the company's very public litigation, and while this lawsuit continues, the CBS management team has the full backing of independent board members, and together with this team, we will continue to focus on value to our shareholders to create, "it said in the statement of the Board.
The claims, several decades ago, are surfacing Da Moonves and CBS are involved in litigation with the parent company National Amusements Inc. (NAI) to control the company, www.mjfriendship.de/de/index.php?op…=view&id=167 Moonves and Shari Redstone, vice chairman of CBS Corp. and Viacom and president of NAI, did not agree. Englisch: www.mjfriendship.de/en/index.php?op…=view&id=167 In October, the pages were delivered in a courtroom in Delaware.
The pages were in the past few weeks in preparation for the process in the finds of revelations and statements that Moonves, 68, had The overwhelming majority of the CBS's 14 board members however, by disclosing harassment allegations against the CEO, will add complexity to the assessment of the best course of the arbitral tribunal in the matter – and wi Questions about Moonves on leadership at CBS.
Moonves is just the latest media titan to be targeted for alleged sexual harassment, inappropriate behavior and abuse of power in the workplace. In the past two years, dozens of women have been telling stories of harassment by powerful personalities, as the #Metoo movement has encouraged women and promoted US business sensitivity to abusive and compulsive workplace activities.
Former Tartar Harvey Weinstein's boss Harvey Weinstein is now being tried in New York City for rape and sexual assault after the New York Times and Farrow published detailed allegations over decades of criminal activity last October.
Longtime "Today" anchor Matt Lauer and "CBS This Morning" anchor Charlie Rose were hastily pulled out of their shows after several women offered harassment and insulting statements. Kevin Spacey was fired by Netflix's "House of Cards" on charges that he attacked actor Anthony Rapp when Rapp was 14 years old. Comedian Louis C.K. has withdrawn from the public and lost his production contract with FX, after several women have appeared with stories that he has exposed to them without their consent.
Former Fox News chairman Roger Ailes was pushed out of the Empire in 2016, which he founded as former Fox News anchor Gretchen Carlson filed a lawsuit for molesting him. Bill O Reilly, Fox News's former star, was also fired after the New York Times reported over the past 15 years on the many harassments affecting the anchor. Disney / Pixar leader John Lasseter, Def Jam founder Russell Simmons and filmmaker Brett Ratner are also among the industry leaders who have been ostracized for harassment or worse.
If Moonves were to be sacked at CBS, he would not be easy to replace . Moonves, one of the industry's most powerful figures, is known for his creative abilities and instincts for shows and stars with the potential to produce wide-ranging hits. As CEO, he also impressed investors by navigating CBS through the digital transformation of the past decade. He added CBS to the OTT arena with the standalone services CBS All Access and Showtime, and CBS reaped the rewards for licensing his extensive library of TV programs for Netflix and other digital platforms.
Moonves is known for having a close-knit team of top executives who have worked with him for a long time with CBS and some years before that with Lorimar and Warner Bros. TV.
Moonves began in 1995 as president of CBS Entertainment and hired the Tiffany network again to watch networks with hits like "Everybody Loves Raymond", "CSI" and "Survivor". In 1998, he was promoted to chief executive of CBS Television and chairman in 2003, and when CBS and Viacom were separated in 2006, he joined Solo as president and CEO. In 2016, he became chairman when battered media magnate Sumner Redstone was forced by pressure from investors to switch to the emeritus role of chairman.
Moonve's relationship with Shari Redstone was badly damaged and irreparably damaged by the legal explosion. It was widely believed that if CBS lost its fight to reduce Redstone's voting rights from 80% to 20%, Moonves would leave the company.
CBS filed a lawsuit against NAI on May 14, in which it accused its controlling shareholder of breach of fiduciary responsibility by pursuing an agenda that conflicted with the interests of all CBS shareholders. NAI, which also controls Viacom, has vehemently denied CBS's allegations and vowed to stop efforts to deprive NAI of its voting rights control in the company. The CBS Board voted 11 to 3 votes on May 11 to issue a special dividend to shareholders that would dilute NAI's voting control over CBS by controlling nearly 80% of the voting shares. NAI quickly responded with a lawsuit against CBS and its directors and questioned their right to receive the dividend.
Redstone firmly believes that CBS and its sister company Viacom are worth more together than they are apart, especially in a world where rivals are getting bigger. Their thinking, one person familiar with that, is that Viacom's cable networks attract a young, eclectic audience that would give CBS more latitude. The company's renowned Paramount studio and infrastructure in foreign markets would only help.
CBS thinks that the combination is not in the interest of the shareholders. One concern is that the negotiation of contracts for Viacom and CBS would remove the leverage that the latter enjoys on cable and satellite distributors.