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COMING UP:Share Opener Variant 1



CBS has made it official, Leslie Moonvez is out. The Chairman CEO stepped down Sunday night amid a flurry of sexual assault allegations. The news came just hours after the New Yorker published an expose. Detailing claims of six women against Moonvez including forced sex, physical violence and intimidation.
Moonvez has issued a statement saying, quote, untrue allegations from decades ago are now being made against me that are not consistent with who I am. Effective immediately I will no longer be chairman and chief executive officer of CBS. CBS had already been negotiating his exit after similar claims made by six other women.
Sources told Reuters, the media company is offering Moonves a severance package that could top $100 million. But he'll be required to donate 20 million of that to organizations that support the #MeToo movement and equality for women in the workplace. His exit also ends a month's long legal battle with controlling stakeholder Sherry Redstone over the company's future.
Chief Operating Officer, Joe Ianniello will be interim CEO. Moonves has long been liked and respected by the ranking file in CBS. He led the network's turnaround with hits like CSI, Survivor, and Two and a Half Men. But the sexual assault claims have taken a toll on his reputation, with some insiders angry he didn't step down earlier in order to save the company from public criticism.