The newly elected CBS board was ratified Tuesday by company shareholders, with the 11 board members — including six new ones — now set to focus on issues including deciding whether ousted CEO Leslie Moonves should receive his $120 million exit package, the AP reports.
The board will also try to chart a path for the company to recover from the sexual misconduct scandal that brought down not only Moonves but also other key players at CBS.
“The board now has until the end of January to decide whether CBS fired Moonves with or without cause, a determination that will affect his eligibility for severance,” the AP reports. “An investigation by two outside law firms could conclude this month.”
Then there’s the matter of finding a new CEO.
“Strauss Zelnick, filling Moonves’ role as board chairman on an interim basis, said that a recruiting firm has been hired to conduct the search and that a decision will be made in due course. CBS hasn’t announced a timetable,” the AP reports. “Moonves was ousted in September after The New Yorker published allegations from 12 women who said he subjected them to mistreatment that included forced oral sex, groping and retaliation if they resisted.”
The report also notes: “Tuesday’s shareholder meeting wrapped up in less than 30 minutes without discussion of Moonves.”