At CBS Annual Meeting, Moonves Goes Unmentioned

But at the annual meeting, no one uttered Mr. Moonves’s name or raised these issues.

The board met on Monday and Tuesday to review the findings by lawyers the company hired to investigate the allegations against Mr. Moonves and the network’s broader workplace culture. A draft of the investigators’ report, a copy of which was reviewed by The New York Times, said the company would have “multiple bases” on which to declare Mr. Moonves fired for cause.

A determination on whether Mr. Moonves was fired for cause could come before the year is out.

The protesters outside, from the National Organization for Women and the advocacy group Ultraviolet, numbered just under a dozen. They held up signs objecting to the potential payout to Mr. Moonves. One protester gripped a set of gold-colored balloons spelling out his name, a levitating reminder of his so-called golden parachute.

Inside the museum — across the street from CBS’s corporate headquarters, the building known as Black Rock — about 40 investors sat in the lower-level theater. Reserved seats in the front were occupied by several CBS executives and board directors, including Shari Redstone, who controls CBS through her family company, National Amusements.

Onstage, three CBS executives sat behind a small table draped in black fabric: Lawrence Tu, the chief legal officer; Joseph Ianniello, the acting chief executive; and Strauss Zelnick, the interim chairman of the board. They called the meeting to order and quickly announced the passage of the company’s executive compensation plan and the installation of six new board directors, including Mr. Zelnick. The new members came on after Mr. Moonves’s departure.

Mr. Zelnick then opened the floor to questions, reminding everyone there was a two-question limit.

Most of the investors in attendance were men and appeared to be of retirement age. One wore a MAGA hat. Only a handful asked a question.

Article source: https://www.nytimes.com/2018/12/11/business/media/cbs-shareholder-meeting-les-moonves.html?partner=rss&emc=rss