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Les Moonves Challenges CBS’ $120M Pay Denial

The disgraced tycoon appears to be fighting for more of his severance pay.

Disgraced CBS CEO Leslie Moonves is reportedly challenging his former company’s decision to deny him $120 million in severance pay, months after he resigned due to myriad sexual-misconduct allegations, according to a regulatory filing cited Thursday by Reuters. After conducting an internal investigation this December, the network announced its plan to deny Moonves the severance. “We have determined that there are grounds to terminate for cause, including his willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation,” the board said in a statement at the time. “Mr. Moonves will not receive any severance payment from the Company.” But in a filing this week with the Securities and Exchange Commission, CBS noted that “On January 16, 2019, Mr. Moonves notified the Company of his election to demand binding arbitration with respect to this matter. The Company does not intend to comment further on this matter during the pendency of the arbitration proceedings.”

FALL FROM GRACE

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