CBS Reportedly Negotiating Exit For CEO Les Moonves
(CNN Money) — Les Moonves’ time at CBS appears to be coming to an end.
CNBC, citing anonymous sources, reported Thursday that the CBS board is in talks with the chief executive that would result in his leaving the company.
Moonves has also told some confidants about the exit talks, a friend who spoke with him about it told CNN. Moonves did not respond to a request for comment.
The developments come about a month after a bombshell report in The New Yorker detailed allegations of sexual harassment and misconduct against the longtime CEO. The CBS board has also hired outside counsel to investigate those claims.
Moonves has been keeping a relatively low profile, inside and outside CBS, during the board’s investigation. But he was seen at Senator John McCain’s funeral service in Washington last Saturday.
His potential exit from CBS has been whispered about in media circles for the past several weeks.
The Los Angeles Times reported on Wednesday that CBS board members were talking about his potential exit. Discussions have focused on the size of a severance package that could exceed $200 million, and on whether Moonves would move to a producer role, the Times reported.
CBS stock was flat in early trading Thursday.