CBS controlling shareholder reportedly looking for Les Moonves replacement

CBS
CEO Les Moonves was recently hit with multiple accusations of
sexual harassment.

Dennis
Van Tine/STAR MAX/IPx/AP

• CBS’s controlling shareholder, Shari Redstone, is
  looking for a candidate to replace CEO Les Moonves, according
  to a NBC News report.
• The CBS board has hired multiple law firms to
  investigate recent sexual harassment allegations against
  Moonves.
• Moonves, 68, has been allowed to stay in his position
  as chief executive for the time being.

The investigation into sexual harassment allegations against CBS
CEO Les Moonves is just getting started, but it looks like the
company’s controlling shareholder has little faith the
68-year-old will be vindicated.

According to a NBC
News, CBS’ controlling shareholder, Shari Redstone, is
already asking around about a possible replacement for Moonves,
who has worked at the company for 23 years.

CBS
controlling shareholder Shari Redstone is pictured above in April
2017.

Andy
Kropa/AP

Two people close to Redstone, who asked to remain anonymous since
they are not authorized to speak publicly on the matter, told the
outlet that she has been asking people to suggest candidates who
could run the network.

One executive who spoke with NBC said that Richard Parsons, the
former CEO of Time Warner, is helping come up with a list of
possible replacements for Moonves.

Business Insider has contacted CBS, their parent company National
Amusements, and representatives for Parsons Thursday morning, but
did not immediately receive a response.

Representatives for all three declined to comment to NBC News,
according to the original report.

Moonves has been allowed to stay in his position while law firms
hired by CBS investigate the allegations made in a
New Yorker exposé earlier this month.

Six women came forward in the report. Four said Moonves forcibly
touched or kissed them.

The other two accused the executive of sexual misconduct and
harassment.

Moonves partially admitted to misbehavior in a statement to the
magazine.

He said: “I recognize that there were times decades ago when I
may have made some women uncomfortable by making advances. Those
were mistakes, and I regret them immensely. But I always
understood and respected — and abided by the principle — that
‘no’ means ‘no,’ and I have never misused my position to harm or
hinder anyone’s career.”

Redstone and Moonves have a had bad blood recently over
Redstone’s plans to merge CBS with her other family-owned
company, Viacom.

The two disagreed over who would act as Moonves’ deputy if the
two companies were merged. Sources familiar with the deal

told CNBC in April that Redstone was likely to replace
Moonves if the two companies merged, because of this
disagreement.