CBS' outgoing CEO to donate $20 million to #MeToo groups

Submitted by Matt on Mon, 2018-09-10 01:29

Article here. Excerpt:

'CBS Corporation announced on Sunday that chairman and CEO Leslie Moonves is departing the company, effective immediately. Moonves' exit comes hours after The New Yorker published accounts from six women with allegations of sexual assault or misconduct, following allegations by six other women in July.

A financial exit package for Moonves will be withheld pending the results of an ongoing investigation into the allegations against him. Moonves was eligible for as much as $180 million if fired without cause, according to an employment contract he signed in May 2017. Recent reports indicated a potential payout in the range of $100 million.

The company said in a statement that CBS and Moonves will donate $20 million to one or more organizations that support the #MeToo movement and equality for women in the workplace. The donation will be made immediately, the statement said, and deducted from any severance he ultimately receives.

Joseph Ianniello, the current Chief Operating Officer and deputy to Moonves, will serve as interim CEO while the board searches for a permanent leader.'

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Comments

I can't say if this guy did behave as alleged or if his behavior was even illegal. What I do see here is an attempt to pay off the #MeToo crowd so he can get his severance, guilty or not, of whatever he is accused of.

Think of this for a second. Is there a moral hazard? You betchya. #MeToo group needs money. So it gets someone to accuse a wealthy prominent man of something bad. He donates scads of money to them then maybe they go away. Rinse and repeat.

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Submitted by Matt on Mon, 2018-09-10 01:32