CBS said Friday it is investigating personal misconduct claims after the company’s chief executive, Les Moonves, was the subject of a New Yorker story detailing sexual misconduct allegations.
The media company said it takes all allegations of personal misconduct seriously. It said the independent directors are “investigating claims that violate the company’s clear policies in that regard.”
CBS Corp.’s stock fell 6 percent — its worst one-day loss in nearly seven years — as the reports of the misconduct allegations began to circulate around noon Friday, triggering investor concerns Moonves might be forced to step down. The CBS chief has been a towering figure in television for decades, credited with turning around a network that had been mired for years at the bottom ratings.
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