ViacomCBS said Friday that former CBS CEO Les Moonves will not get his $120 million severance package from his firing in 2018, ending a long-running dispute over the money.
Moonves was ousted in 2018 after a company investigation into allegations of sexual misconduct spanning three decades found Moonves violated company policy and did not cooperate with the investigation.
But Moonves challenged the decision and his $120 million severance was set aside until the matter could be resolved.
On Friday, New York-based ViacomCBS said in a filing with the Securities and Exchange Commission that the matter had been resolved, the arbitration dismissed, and the $120 million would be going back to ViacomCBS in its entirety. It give no further details.
Moonves was one of television's most influential figures, credited for turning around the fortunes of CBS when he took over as entertainment chief in 1995. He had been one of the highest-paid executives in the nation, making about $70 million a year at the end of his run with the company.
He was ousted after allegations from women who said he subjected them to mistreatment including forced oral sex, groping and retaliation if they resisted. Moonves has denied any allegations of non-consensual sex.
SMPTE elects board officers, regional governors
SMPTE®,the home of media professionals, technologists, and engineers, has revealed the board officers and regional governors who will serve terms beginning in January 2025.
Three new officers--Richard Welsh as SMPTE president, Eric Gsell as SMPTE executive VP, and Polly Hickling as SMPTE Education VP--have been elected for a two-year term from Jan. 1, 2025, to Dec. 31, 2026. One SMPTE officer, Lisa Hobbs, will be continuing her service as SMPTE secretary and treasurer for another two-year term. Additionally, Raymond Yeung will be stepping into the role of standards VP on Jan. 1, 2025.
“SMPTE’s membership has spoken,” said SMPTE interim executive director Sally-Ann D’Amato. “These officers have been tasked with an important responsibility, one each of them is prepared to tackle head-on. These next two years are looking bright for SMPTE!”
In addition to the officers, 10 regional governors were elected by the Society to serve two-year 2025-2026 terms.
These include the following regional governors, re-elected to continue their service:
Asia-Pacific Region Governor
Tony Ngai, Society of Motion Imaging Ltd.
EMEA - Central & South America Region Governor
Fernando Bittencourt, FB Consultant
United Kingdom Region Governor
Chris Johns, Sky UK.
USA - Central Region Governor
William T. Hayes, Consultant
USA - Eastern Region Governor
Dover Jeanne Mundt, Riedel Communications
USA - Western Region Governor
Jeffrey F. Way, Open Drives
Also elected were four newcomers to the SMPTE Board:
Canada Region Governor
Jonathan Jobin, Grass Valley
USA - Hollywood Region Governor
Allan Schollnick, Voxx... Read More