Les Moonves Will Go To Arbitration With CBS Over Severance

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Les Moonves Will Go To Arbitration With CBS Over Severance
CBS' former CEO was told last month he would not receive severance pay following an investigation into sexual misconduct allegations against him.
SHOW TRANSCRIPT

Former CBS CEO Les Moonves, who left the company following a series of sexual misconduct allegations, plans to fight for his recently rescinded $120 million severance package.

Moonves ended his 23-year run at CBS back in September after two stories in The New Yorker detailed several sexual misconduct allegations against the executive spanning decades of his career.

CBS investigated those allegations, and in December its board of directors announced Moonves would not receive any severance. The statement noted he was losing his severance package in part because of "his willful failure to cooperate fully with the Company's investigation."

After CBS' announcement, Moonves' lawyer called the board's decision "foreordained" and "without merit".

CBS has stated it will not comment on court proceedings until the arbitration is over.