CBS Probe Finds Grounds to Fire Moonves for Cause, Deny Him Severance

CBS has grounds to terminate former CEO Les Moonves for cause for “willful and material misfeasance,” violating company policies and failing to cooperate with the investigation, the board said Monday. He won't get severance. Moonves stood to collect $120 million in severance had the board determined he was fired without cause (see 1809100026). The investigation showed CBS’ policies “have not reflected a high institutional priority on preventing harassment and retaliation,” the company said, though it said harassment and retaliation aren’t “pervasive." CBS has appointed new chief people officer Laurie Rosenfield (see 1810110052) and retained “outside expert advisors” to develop initiatives to promote workplace “dignity, transparency, respect and inclusion,” it said.