Because of his achievements, Mr. Moonves has become one of the highest paid and respected leaders in the industry. He has paid a yearly salary package of $ 69.3 million. From 2006 to 2017, Mr. Moonves' total compensation, including salary and stock bonuses, amounted to more than $ 1 billion, reports Equilar, a research firm that collects executive compensation data sealed after the board's attempts to Ms. Phillips.
In September, shortly after the New Yorker published an article in which six women indicted Mr. Moonves for misconduct, the CBS board negotiated a settlement with Mr. Moonves, including a $ 20 million donation. Dollars to one or more organizations supporting gender equality in the workplace. The company hired a consulting firm to choose which organizations should receive the money. However, Mr Moonves also has to agree on the recipients. This amount has already been reserved and is deducted from Mr. Moonves' total value of $ 1
The CBS board had already commissioned the two law firms to conduct an investigation into the claims against Mr. Moonves and further workplace culture on the network in August after six women accused Mr. Moonves in a previous article by The New Yorker for misconduct had.
The board commissioned Nancy Kestenbaum of Covington & Burling and Mary Jo White of Debevoise & Plimpton to investigate. Ms. White led the Securities and Exchange Commission during the Obama administration and was previously the US attorney for the Southern District of New York. Ms. Kestenbaum was also a prosecutor in the same district.
Even before the accusations of misconduct came, Mr. Moonves was under heavy pressure. He led a brave lawsuit against CBS's controlling shareholder, Shari Redstone, to prevent an upcoming merger with sister company Viacom, which also controls them.
Mr. Moonves is the latest powerful entertainment character who was ousted from his place in the #meToo era. Film producer Harvey Weinstein has been accused by many women of sexual assault. Matt Lauer stepped down as the anchor of NBC's most valuable newscast "Today" after several women suspected sexual harassment. Charlie Rose of CBS and PBS left the air after several women got him involved. And Fox News saw the farewells of founding member Roger E. Ailes and his first-rate landlord, Bill O & # 39; Reilly. All of these men have denied any unacceptable sexual activity.
Many of the men who have been overthrown have seen for years what television programs, movies and news programs saw millions of Americans every day. The allegations go back years, in some cases even decades. And the wave of scandals is strongly reminiscent of the fact that the entertainment and news industries are dominated by men, especially in their upper ranks.