The network made the announcement in a statement Sunday evening.
A report from The New Yorker on Sunday detailed allegations of sexual harassment and assault from six more women, bringing the total to 12 women who have accused Moonves of misconduct.
Click here to read more about the claims against Moonves.
In other news:
"I couldn't articulate the strategy": Insiders say Verizon's marriage of Yahoo and AOL was doomed from the start. The integration between AOL and Yahoo has never been on solid footing, according to former senior AOL employees.
Snap's stock falls in premarket as company's chief strategy officer quits "to pursue other opportunities." Snap Inc's chief strategy officer, Imran Khan, is leaving after three years with the company.
Brands are getting savvier with Instagram Stories, hoping to avoid burning their media budgets on lousy ads. Brands including Cisco, Smirnoff, Budweiser, and Benefit Cosmetics are using Instagram Stories as a testing ground.
Google pulls Russian opposition leader's YouTube ad ahead of vote after authorities complain. The series of YouTube videos featured Russian opposition leader Alexei Navalny inviting Russians to join demonstrations on Sunday, when polls suggest President Vladimir Putin's former chief-of-staff Sergei Sobyanin will be comfortably re-elected as the capital's mayor.
Nike's Colin Kaepernick ad isn't the first time the brand's commercials have made a social statement. Nike has a long history of using its ads to make a social statement.
Apple is talking to big newspapers about joining its subscription service, reports Recode. Apple content boss Eddy Cue has reached out to the New York Times, the Wall Street Journal and the Washington Post about joining Texture, the magazine app Apple bought in March.