Insiders

Leslie Moonves challenges $120 million severance denial by CBS

January 17, 2019 at 11:44 am EST

(Reuters) - Leslie Moonves, who resigned under pressure as CEO of CBS Corp, is challenging the company's decision to deprive him of $120 million in severance pay, according to a regulatory filing on Thursday.

Moonves resigned amid a wave of allegations of sexual assault and harassment last September.

In December, CBS denied Moonves of a $120 million severance package following a board review of the findings of an investigation into his behavior and the CBS culture conducted by two law firms hired by the CBS board.

"On January 16, 2019, Mr. Moonves notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings," CBS said https://www.sec.gov/Archives/edgar/data/813828/000119312519011209/d656406d8k.htm in the filing.

Moonves has denied any wrongdoing and has described his sexual encounters as consensual.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Shailesh Kuber)

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	PARAMOUNT GLOBAL	10.9 USD	-0.55%	-1.45%	7.55B
	LINE CORPORATION	5,350 JPY	-.--%	-0.19%	12.52B

Leslie Moonves

Leslie Moonves is a businessperson who has been the head of 13 different companies. He holds the position of Chairman for CBS Global Distribution Group, Chairman at CBS Radio, Inc., President & Chief Executive Officer of CBS Operations, Inc. and Chief Executive Officer at CBS Broadcasting, Inc. He is also on the board of 6 other companies. Mr. Moonves previously held the position of Chairman & Chief Executive Officer of ViacomCBS, Inc. Chief Executive Officer of CBS Broadcasting, Inc. Co-President & Co-Chief Operating Officer at Viacom, Inc. and President at CBS Entertainment Services, Inc. (which are all subsidiaries of ViacomCBS, Inc.), Chairman at OUTFRONT Media, Inc., President at Hollywood Radio & Television Society, President for Lorimar Telepictures Corp., President at Warner Bros. Television Production, Inc., Vice President-Movies at Twentieth Century Fox International Television, Inc. and Co-Chairman-Governors Board at The Paley Center for Media. Leslie Moonves received an undergraduate degree from Bucknell University.

View full profile

Linked companies
CBS Radio, Inc. CBS Radio, Inc. BroadcastingConsumer Services CBS Radio, Inc. engages in the operation of radio stations. The company was founded in 1928 and is headquartered in New York, NY.	Chairman
CBS Operations, Inc. CBS Operations, Inc. BroadcastingConsumer Services CBS Operations, Inc. owns and operates broadcast television stations. The company is headquartered in New York, NY.	Chief Executive Officer