Moonves leaves CBS over sexual misconduct claims

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US television giant CBS announced Sunday the immediate departure of powerful CEO Leslie Moonves, one of the biggest scalps in the #MeToo era, following a slew of escalating sexual misconduct allegations.

Moonves, who transformed the corporation into the most watched television network in the country, was one of the most respected executives in Hollywood until he was first publicly accused.

Two articles published by The New Yorker – on July 27 and on the day that his departure was announced – detailed allegations against the 68-year-old television titan from 12 different women.

CBS subsequently declared that he would depart as chairman, president and CEO "effective immediately," and that he and the network would donate 20 million US dollars to supporting the #MeToo movement and equality for women in the workplace.

"The donation, which will be made immediately, has been deducted from any severance benefits that may be due Moonves," CBS said.

The disgraced CEO will not receive any compensation, pending the results of an investigation into the allegations against him being conducted by two blue-chip law firms, the corporation announced.

"Any payments to be made in the future will depend upon the results of the independent investigation and subsequent board evaluation," CBS announced in a statement.

Moonves's departure had been widely expected, with US media reporting that the terms of his exit had been under negotiation for weeks, and a deal had been anticipated before markets open Monday.

(Cover: Leslie Moonves, chairman and CEO of CBS Corporation, speaks during the Milken Institute Global Conference in Beverly Hills, California, US on May 3, 2017. /VCG Photo)

Source(s): AFP