In this Sept. 19, 2017 file photo, Les Moonves, chairman and CEO of CBS Corporation, poses at the premiere of the new television series "Star Trek: Discovery" in Los Angeles. (Photo by Chris Pizzello/Invision/AP, File)
NEW YORK (AP) --
The Wall Street Journal is reporting that CBS chief Les Moonves is negotiating with independent directors of CBS' board for a possible exit.
CBS has appointed two law firms to investigate Moonves for sexual misconduct allegations stemming from a July New Yorker article. CBS didn't return a request for comment. The report cites unnamed people familiar with the talks.
The Journal and CNBC both say Chief Operating Officer Joe Ianniello would be CBS' interim CEO if Moonves leaves.
The Journal also reports that the independent directors are seeking an assurance that CBS parent National Amusements won't seek to combine CBS with sibling company Viacom, something Moonves has long resisted. CBS and National Amusements, run by media mogul Shari Redstone, are reportedly in talks to settle a court battle over control.
Pepsi soft drinks in plastic bottles are on sale at a grocery store in New York on Weds., Nov. 15, 2023. (AP Photo/Ted Shaffrey, File)
PepsiCo confirmed Friday that it's ending some of its diversity, equity and inclusion initiatives, even as rival Coca-Cola voiced support for its own inclusion efforts.
In a memo sent to employees, PepsiCo CEO Ramon Laguarta said the company will no longer set goals for minority representation in its managerial roles or supplier base. The company will also align its sponsorships to events and groups that promote business growth, he said.
Laguarta wrote that inclusion remains important to PepsiCo, whose brands include Gatorade, Lay's potato chips, Doritos, Mountain Dew as well as Pepsi. The Purchase, New York-based company's chief diversity officer will transition to a broader role focused on employee engagement, leadership development and ensuring an inclusive culture, he said.
Since President Donald Trump returned to the White House last month, U.S. government agencies, companies and schools have rushed to reevaluate policies and programs they adopted with the goal of reducing discrimination against members of minority groups, women and LGBTQ+ people.
Trump ended DEI programs within the federal government and has warned schools to end DEI programs or risk losing federal money.
PepsiCo's rollback came as Coca-Cola reaffirmed support for its DEI efforts.
In its annual report, Atlanta-based Coke warned that its business could be negatively affected if it is unable to attract employees that reflect its broad range of customers.
"Failure to maintain a corporate culture that fosters innovation, collaboration and inclusion … could disrupt our operations and adversely affect our business and our future success," the company said.
Coca-Cola has set a goal of having women in 50% of its senior leadership roles by... Read More
