(DEADLINE HOLLYWOOD) -- Once powerful CEO of CBS Les Moonves will not be getting a single dime of the $120 million in severance he expected after stepping down under allegations of misconduct this fall, the company’s board has decided today.
“The Board of Directors of CBS has completed its investigation of former Chairman and CEO Leslie Moonves, CBS News, and cultural issues at CBS,” the company said in a statement Monday.
“With regard to Mr. Moonves, 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. Mr. Moonves will not receive any severance payment from the Company,” they added.
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