Moonves Forfeited $34.5 Million When CBS Fired Him for Cause
- The stock awards had been granted last year before ouster
- Longtime media mogul was accused of sexual misconduct
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Les Moonves, the longtime CBS Corp. chief executive officer ousted over allegations of sexual misconduct, lost out on stock awards worth an estimated $34.5 million after the company determined that his behavior warranted termination for cause.
The awards, granted to Moonves in 2018, were forfeited after a board investigation was concluded late last year, according to a regulatory filing Friday. In January, the former media mogul requested that his termination be resolved in binding arbitration. Moonves received around $4.58 million in total compensation for his work in 2018, including $2.93 million in salary.