1. CBS Shakeup: New Board Members Named

    CBS Shakeup: New Board Members Named

    CBS has made it official: Leslie Moonves is stepping down as chairman-CEO amid a cascade of sexual assault allegations and CBS and National Amusements Inc. have settled the legal battle that erupted in May over control of the company. CBS chief operating officer Joe Ianniello has been named interim CEO of the company. The shakeup at the top includes the addition of six new board members to the 14-member CBS board, which has been at odds with NAI...

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    1. CBS is an organization of talented and dedicated people who have created one of the most successful media companies in the world.
    2. The donation, which will be made immediately, has been deducted from any severance benefits that may be due Moonves following the Board's ongoing independent investigation led by Covington & Burling and Debevoise & Plimpton.
    3. In addition, NAI confirmed that it has no plans to propose a merger of CBS and Viacom and has agreed that it will make no such proposal for at least two years after the date of the settlement.
    4. We thank Les for his 24 years of service. Among his achievements, he established a strong management team, giving us great confidence as we accelerate our succession plans and provide continuity of leadership.
    5. This is proof that the era where powerful men abused and harassed women without consequence is starting to come to an end, and a testament to the enduring strength and power of the #MeToo movement.
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