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

Chris
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…