NEW YORK (AP) - The Latest on CBS annual shareholder meeting (all times local):
9:45 a.m.
Mum’s the word.
The twice-postponed CBS shareholders meeting has wrapped up in less than 30 minutes. There was no mention of the scandal enveloping former CEO Les Moonves, who was ousted in September after multiple allegations of sexual misconduct.
Tuesday’s meeting in New York wrapped up quickly after 11 board members were elected. The new board has until the end of January to decide whether Moonves will receive his $120 million severance package. About a dozen protesters gathered as shareholders arrived, holding such signs as “CBS don’t reward sexual abuse.”
Moonves was ousted after The New Yorker published allegations from 12 women who said he subjected them to mistreatment. The network launched an investigation with two outside law firms.
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9:30 a.m.
CBS shareholders have approved new board members, as an investigation into sexual-misconduct claims against former CBS CEO Les Moonves looms.
The 11 board members include six new ones who came aboard during a shakeup following Moonves’ ouster.
The board isn’t expected to decide the fate of Moonves’ $120 million severance package right away. It has until the end of January, when an investigation is to wrap up.
Two women’s organizations, UltraViolet and NOW NY, are staging a protest outside of the CBS shareholders meeting to protest Moonves’ possible severance package. Moonves won’t be paid the severance if the investigation finds he was terminated with cause. About a dozen protesters gathered ahead of the meeting.
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2:00 a.m.
The investigation into sexual-misconduct claims against former CBS CEO Les Moonves will loom over the network’s annual shareholder meeting on Tuesday.
But no major decisions are expected right away. A newly revamped board will have to decide by the end of January whether Moonves receives a $120 million severance package. It will also have to chart the path for CBS to recover from the scandal.
Moonves was ousted in September after The New Yorker published allegations from 12 women who said he subjected them to mistreatment. The network launched an investigation with two outside law firms.
Shareholders will vote to elect 11 board members, six of whom came aboard in a reshuffling after the scandal broke.
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