Former CBS chief executive Les Moonves will lose his $120 million severance package with the company amid reports that he tried to cover up allegations of sexual misconduct lodged against him, CBS announced Monday. Initially, he was set to walk away with a whopping $120 million severance package. Moonves’ most recent contract laid out grounds for his firing with cause, which included fraud, a felony conviction or failure to comply with company policies or investigations. Sexual misconduct wasn’t included in those stipulations unless it also violated one of them. In November, the Times released a report detailing Moonves’ attempts to silence an accuser and bury allegations.

Source: Huffington Post December 17, 2018 22:30 UTC