Les Moonves is stepping down as Chairman and CEO of CBS after six more women came forward with allegations of sexual misconduct.
According to CBS, the company will donate $20 million to organizations that support the #MeToo movement. The network says the money will come from "any severance benefits that may be due Moonves."
In addition, CBS says, "Moonves will not receive any severance benefits at this time (other than certain fully accrued and vested compensation benefits)."
Moonves' resignation is effective immediately and Joseph Ianniello, who has been the CBS chief operating officer since 2013, will assume the role of president and acting CEO while the board of directors looks for a permanent replacement.
Six women came forward with allegations against Les Moonves last month and six more came forward in a new article published on Sunday by the New Yorker.