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Les Moonves Won’t Get $120 Million Severance From CBS

Les Moonves

Les Moonves.
Photo: Antoine Antoniol/Getty Images

CBS has completed its investigation into former CEO Les Moonves, and has found that he will be fired with cause, and won’t receive a $120 million payout. In a statement released Monday evening, the company announced the details of the inquiry and Moonves’s exit: “With regard to Mr. Moonves, we have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation,” it read. “Mr. Moonves will not receive any severance payment from the Company.”


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