*By Bridgette Webb* CBS's board of directors decided Monday to keep Leslie Moonves on as Chairman and CEO, even as the company looks into sexual misconduct allegations against him. The company also postponed an annual shareholder meeting that had already been rescheduled for August 10 and said it would seek outside legal counsel to oversee an independent investigation. Wall Street Journal reporter Keach Hagey, who wrote a book about battle for power at CBS, said the probe would be 'top-to-bottom', examining not only Moonves's conduct, but also the broader company culture. "Half of that Ronan Farrow article was about '60 Minutes', Jeff Fager, the way that sexual harassment claims were handled,” Hagey said before the board's decision. "This is also part of a thematic complaints that Shari Redstone has had against the board. She claimed that a board member grabbed her face." Shares of CBS have fallen more than 10 percent since a New Yorker [exposé](https://www.newyorker.com/magazine/2018/08/06/les-moonves-and-cbs-face-allegations-of-sexual-misconduct) published Friday detailed claims of harassment by six women who worked with Moonves between 1985 and 2006. The scandal coincides with a battle between Moonves and vice chairman Shari Redstone, whose National Amusements is the largest shareholder in CBS. Redstone is trying to recombine the company with Viacom, which she also controlsーa move Moonves sharply opposes. It was not clear after Monday's meeting whether Moonves would stay on throughout the entire investigation or if the board is still discussing his removal. “If Les Moonves does step aside, it would increase the chances that CBS and Viacom would merge,” Hagey said. For more on this story, [click here](https://cheddar.com/videos/whats-next-for-cbs).

Share:
More In Business
A US tariff exemption for small orders ends Friday. It’s a big deal.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines’ new policy will affect plus-size travelers. Here’s how
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Load More