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CBS board is reportedly negotiating a $100 million exit for CEO Les Moonves

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les moonvesChris
Pizzello/Associated Press

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.

Developing…

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