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| Les Moonves |
Nonetheless, the longtime television executive received $12.5 million in compensation, including salary and stock, last year — down from $69 million in 2017, according to a regulatory filing Friday. The filing said that if he hadn’t forfeited a chunk of his 2018 compensation “pursuant to his separation agreement with the company,” Moonves would have received $47.1 million for his eight months on the job last year.
Moonves, 69, left CBS in September. He had served as the company’s CEO for 12 years and was perennially one of the most handsomely compensated executives in corporate America.
Now he is fighting the company’s decision to strip him of his $120-million severance package after he was forced out last year. In January, he exercised his right to demand binding arbitration over the matter.
Moonves resigned under pressure six weeks after the New Yorker magazine published an article that brought to light the accounts of six women who said Moonves forcibly kissed them in work settings in the 1980s and ’90s. CBS engaged two outside law firms to determine whether Moonves violated the terms of his employment.
In December, the company’s board of directors announced that it would not pay Moonves any of the severance package. The board determined that it was justified in firing him for cause because, it said, he committed “willful and material misfeasance” and failed to cooperate fully with the company’s investigation.
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