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CBS announced Friday that it would investigate company chairman and CEOLeslie Moonvesahead of aNew Yorkerexpose by Ronan Farrow.
The Independent Directors of CBS have committed to investigating claims that violate the Companys clear policies in that regard.
CBS is currently locked in litigation with Shari Redstone, the controlling shareholder in both CBS and Viacom.
While that litigation process continues, the CBS management team has the full support of the independent board members.
Along with that team, we will continue to focus on creating value for our shareowners.
As news ofThe New Yorkers forthcoming report circulated,CNN reportedthat CBS stock fell about six percent.
