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“We have determined that there are grounds to terminate for cause.”

So read a CBS Corp. statement by the board of directors on the September firing of once Chairman and CEO Leslie Moonves. Covington & Burling LLP and Debevoise & Plimpton LLP ran the five-month investigation. The finding eliminates the $120 million severance he was due to receive in the wake of sexual harassment and assault claims by 12 women.

Moonves’ lawyer stated he “vehemently denies any non-consensual sexual relations and cooperated extensively and fully with investigators.” Though the CBS statement cited “his willful failure to cooperate fully with the company’s investigation.”

What’s more, CBS said, “the investigators learned of past incidents of improper and unprofessional conduct, and concluded that the company’s historical policies, practices and structures have not reflected a high institutional priority on preventing harassment and retaliation.” TMZ cited inside sources about the nature of the questions asked to employees. The board, which includes six new members, found not enough money was devoted to human resources and promoted Laurie Rosenfield, who joined CBS in May, to chief people officer.

Baz Hiralal

Baz Hiralal

Managing Editor, Thought Leadership