The CBS board is reportedly negotiating a $100 million exit for CEO Les Moonves, as the investigation into sexual misconduct claims against him continues
The CBS board is in settlement talks with CBS CEO Les Moonves for his exit from the company, CNBC's David Faber reported Thursday, citing "people close to the negotiations."
If the talks are successful, Moonves' right-hand man, COO Joe Ianniello, will serve as interim CEO, according to CNBC.
A sticking point is Moonves' exit package, according to the report. While his contract would entitle him to up to a golden parachute of up to $180 million, given the ongoing investigation into sexual harassment claims against the CEO, the board is reportedly offering him about $100 million. The board is also reportedly seeking the right to claw back a portion of that package depending on the findings of the investigation.
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