Time’s Up Blasts Expected Les Moonves $100 Million Package: ‘Use This Money’ for Victims

Tim Baysinger
Updated
Les Moonves Faces New Misconduct Accusations From 6 Women

Time’s Up put out a statement Thursday criticizing the $100 million settlement package that CBS CEO Les Moonves is reportedly set to receive in his widely-expected exit from the company.

“This is a precedent-setting moment for CBS — and culture at large. A man accused of rigorously reported allegations of harassment should not be rewarded with a golden parachute,” the advocacy organization said in a statement. “Les Moonves walking away with a $100 million settlement sends a message to survivors everywhere that powerful men can act without fear of consequence. We remain in solidarity with the six women who bravely shared their stories, risking their own incomes and careers, as well as the untold other women who may still be afraid to speak out.”

The statement goes on to point out that $100 million “is an enormous sum of money. In fact, it’s more than the average American woman will earn over the course of 50 lifetimes. Rather than reward an alleged predator, this $100 million could fund the legal defenses of countless women and men facing workplace harassment and abuse across the country.”

Also Read: CBS Board in Negotiations for CEO Les Moonves to Exit Company

The CBS board is currently in negotiations with CEO Les Moonves to exit the company, multiple people with knowledge of the talks confirmed to TheWrap. In July, the New Yorker reported on sexual harassment accusations against Moonves from six women.

Such a departure would make CBS COO Joe Ianniello the publicly traded company’s interim CEO.

According to CNBC’s David Faber, who first reported the “deep” negotiations about Moonves’ exit, the current hangup is the size of the longterm executive’s exit package. Under his contract, Moonves is due $180 million in severance, plus a production deal, Faber said. The board is currently offering him a package worth roughly $100 million, which would mostly consist of company stock.

Read original story Time’s Up Blasts Expected Les Moonves $100 Million Package: ‘Use This Money’ for Victims At TheWrap