CBS Corp said on Monday it will pay $120 million to former chief executive officer Leslie Moonves if an internal investigation into allegations of harassment fails to provide grounds for his dismissal.
Moonves, the top executive at CBS since 2006 and a major figure at the broadcast network and media company for more than two decades, resigned on Sunday amid a new wave of allegations against him of sexual assault and harassment.
The company said under a settlement agreement, Moonves could end up with nothing pending results of an investigation.
“I recognize that there were times decades ago when I may have made some women uncomfortable by making advances”, Moonves had said in an emailed statement to Reuters.
“Those were mistakes, and I regret them immensely,” Moonves said. “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. This is a time when we all are appropriately focused on how we help improve our society, and we at CBS are committed to being part of the solution.”