Update: CBS’s CEO is Stepping Down Immediately


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One of the biggest names in TV is CBS’s CEO Les Moonves after being with the company since 1985 and named CBS CEO back in 2003. In 2016 he also became the Chairman of CBS. Now CBS has announced that Les Moonves will immediately step down as CEO.

This all comes as six more women have accused Les Moonves of sexual misconduct according to a report in The New Yorker. According to the reports, this change could come as soon as Monday Morning. This all comes at a time that CBS is trying to fight off a push by their largest stockholder to merge Viacom back into CBS. To block this merger, CBS is trying to change their voting rules and is suing the block the deal. Now as part of the announcement that Moonves is leaving their controlling stakeholder says they don’t plan to merge CBS & Viacom and won’t try again for at least two more years.

Now the question is who will be his long-term replacement as that new CEO will help shape the future of cord cutting for years to come. This new leadership could dramatically change the future of cord cutting. CBS has long been known as one of the tougher networks for cord cutting services to work with. CBS has also held back from partnering with services like Hulu instead of deciding to launch their own streaming services. Will the next CEO have the same plans? For now, we will have to wait and see who is named as the next permanent CEO of CBS.

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