CBS Board to Discuss Sexual Harassment Allegations Against CEO Les Moonves

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"My experience with him on a professional and personal basis has never had any hint of the behavior this story refers to", Ross said on Twitter on Friday night in response to The New Yorker article, which includes sexual misconduct allegations against Moonves by six women, including actress Illeana Douglas. The activity happened over a period of three decades beginning in the 1980′s, the alleged victims said.

Moonves has responded to questions about the allegation from The New Yorker's Ronan Farrow, writing: "I recognize that there were times decades ago when I may have made some women uncomfortable by making advances". They're expected to select a special committee to oversee the investigation into Moonves's conduct and the broader culture at CBS, which will reportedly be carried out by an outside law firm. He is widely liked by Wall Street. The CBS chief, who has previously spoken out in support of the Me Too movement sweeping the entertainment industry, denied any wrongdoing. He is the latest Hollywood bigwig to be accused of sexual misconduct. Redstone is trying to recombine the company with Viacom, which she also controlsーa move Moonves sharply opposes.

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The departure of Moonves, 68, who's led the company since 2006, would be a blow. For some time, the board has been split between those loyal to Moonves and Redstone, whose family owns a controlling stake in both companies. "Those were mistakes, and I regret them immensely", he said.

Corporate governance experts said there could be several reasons why CBS's board may not want to fire Moonves, including its fiduciary duty to shareholders to minimize the company's legal liabilities.

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Among the independent directors are former Verizon executive Bruce Gordon and former Clinton defense secretary William Cohen. But if it retains Moonves, it will have to explain why it's keeping him on despite the allegations. Redstone did not comment publicly in the aftermath of Monday's decision, but that could change if the majority of the board continues to vote against taking any action.

Early trading shows CBS's shares are down almost 4 percent at around $52.00 at 7:10 am PST after tumbling 6 percent Friday following the release of Ronan Farrow's bombshell expose, in which six women accused Moonves of sexual harassment dating back more than two decades.

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