Former CBS CEO Les Moonves will not receive severance pay following a sexual misconduct probe, the company's board of directors announced Monday evening.
"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," the board said in a statement.
The media executive resigned from his roles at the company in September after a dozen women came forward alleging sexual misconduct. Moonves has denied the accusations.
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