The newly elected CBS board faces daunting tasks: deciding whether former CEO Les Moonves gets a $120 million exit package following a sexual-misconduct investigation and charting a path for CBS to recover after the scandal.
According to The Associated Press, CBS shareholders ratified the 11 board members, including six new ones, at an annual meeting Tuesday. The board now has until the end of January to decide whether CBS fired Moonves with or without cause, a determination that will affect his eligibility for severance. An investigation by two outside law firms could conclude this month.
Meanwhile, a search for a new CEO is ongoing.
Moonves was ousted in September after The New Yorker published allegations from 12 women who said he subjected them to mistreatment that included forced oral sex, groping and retaliation if they resisted.
Tuesday’s shareholder meeting wrapped up in less than 30 minutes without discussion of Moonves.
Though no shareholder raised the issue at the meeting, about a dozen protesters gathered outside as shareholders arrived. The protesters held such signs as “CBS don’t reward sexual abuse” and ”$120M?! Les doesn’t deserve more.”
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