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Les Moonbus Abandons $ 120 Million in Settlement with Viacom CBS

ViacomCBS Inc. announced on Friday that it will regain Les Moonves’ $ 120 million severance pay and resolve a more than two-year dispute with the former CEO over the dismissal.

Moonves was accused of sexual harassment in September 2018 by CBS Corp. Resigned as Chairman and CEO of. He denied the claim.

He was Denied his retirement After concluding in a CBS board investigation that he violated company policy, violated an employment contract, and deliberately did not fully cooperate with the investigation.

January 2019, Mr. Moonves Disputed the company’s decision Withhold his $ 120 million severance pay as part of the terms of his retirement contract.Under agreement, Mr. Moonves Forfeited nearly $ 34.5 million Of his compensation package.

Moonbus’ lawyer said there was no merit in the board’s reason for refusing to retire at the time.

Les Moonbus Abandons $ 120 Million in Settlement with Viacom CBS

Source link Les Moonbus Abandons $ 120 Million in Settlement with Viacom CBS

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