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    CEO Leslie Moonves resigns from CBS

    by Meg James, Los Angeles Times Sep 10, 2018 7 minutes

    LOS ANGELES - Bowing to pressure brought on by a sexual harassment scandal, CBS Corp. Chairman and Chief Executive Leslie Moonves resigned late Sunday, marking a stunning fall from grace for one of Hollywood's most respected entertainment executives.

    CBS said that it and Moonves will donate $20 million to organizations that support the #MeToo movement and equality for women in the workplace. The donation, which will be made this week, has been deducted from any severance benefits that might have been due to Moonves.

    Moonves' most recent contract, which was due to expire in 2021, made him eligible to receive an exit deal valued at around $180 million - but that is now in doubt. The CBS board plans to wait to negotiate a financial settlement until the conclusion of an investigation by two prominent law firms into allegations of misconduct.

    "Leslie Moonves will depart as Chairman, President and Chief Executive Officer effective immediately. Chief Operating Officer Joseph Ianniello will serve as President and Acting CEO while the Board conducts a search for a permanent successor," CBS said in a statement Sunday afternoon.

    Negotiations over the terms of Moonves'

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