Amid a swarm sexual assault allegations, the chairman and CEO CBS, Leslie Moonves, has stepped down from his position, putting an end to the ongoing legal battle over control the company.
At the moment, CBS chief operating ficer Joe Ianniello has been named interim CEO the company with the replacement six new board members being enacted as well.
“CBS is an organization talented and dedicated people who have created one the most successful media companies in the world,” says Shari Redstone, CBS vice chair and president parent company National Amusements, Inc. “Today’s resolution will benefit all shareholders, allowing us to focus on the business running CBS – and transforming it for the future. We are confident in Joe’s ability to serve as acting CEO and delighted to welcome our new directors, who bring valuable and diverse expertise and a strong commitment to corporate governance.”
The settlement that was reached will have CBS and Moonves donate $20 million to organizations that support the #MeToo movement and promote gender equality in the workplace in response to the dozens allegations brought against Moonves. While the former CEO does have a controversial severance package valued at over $100 million, his donation will be deducted from the final amount.
“The donation, which will be made immediately, has been deducted from any severance benefits that may be due Moonves following the Board’s ongoing independent investigation led by Covington & Burling and Debevoise & Plimpton,” CBS adds. “Moonves will not receive any severance benefits at this time (other than certain fully accrued and vested compensation and benefits); any payments to be made in the future will depend upon the results the independent investigation and subsequent Board evaluation.”
It was investigative reporter Ronan Farrow who published the two New Yorker pieces that implicated Les Moonves in accusations sexual assault that included instances where Moonves is accused forcing women to perform oral sex on him and exposing himself without consent. In a statement confirming his departure, Moonves continues to deny the allegations.
“Untrue allegations from decades ago are now being made against me that are not consistent with who I am,” he wrote. “Effective immediately I will no longer be Chairman and Chief Executive Officer CBS. I am deeply saddened to be leaving the company. I wish nothing but the best for the organization, the newly comprised board directors and all its employees.”
On Tuesday, surprising news came out Chicago when Mayor Rahm Emanuel announced he will not seek re-election for a third term, ultimately calling it quits when his term is over.
“As much as I love this job and will always love this city and its residents, I’ve decided not to seek re-election,” the Rahm said Tuesday. “This has been the job a lifetime, but it is not a job for a lifetime …] Now with our three children in college, Amy and I have decided it’s time to write another chapter together.”
Rahm has been a part a number controversies since he’s been Mayor Chicago throughout his time. From mishandling the Laquan McDonald shooting in 2014 to his education policies that resulted in the closure multiple public schools, the Chicago Mayor has been criticized by several ficials & people in Chicago, one which was Chance The Rapper who called out Rahm on the track “I Might Need Security” from June. “And Rahm you done, I’m expecting a resignation and open investigation on all these paid vacations for murderers,” Chance spits, and luckily for him it turns out he was right.
Following the news Rahm’s stepping down, Chance hopped on Twitter Tuesday afternoon and gave praise to the organizations who helped secure the mayor’s resignation.
“Shoutout to all the grassroots orgs like @AssataDaughters @BYP_100 and many others that pushed for accountabily and resignation from Rahm. His announcement to not run however, is not Justice for Laquan McDonald, only convicting muderer Jason Van Dyke can bring that,” he tweeted out before saying we need a new mayor who “cares about equity in regards to education, job development and healthcare in one the most segregated cities in the country.”
Check out Chance’s tweets (below).
Three 6 Mafia’s impact in the rap game has been as evident as ever over the past few years. It feels like many rappers, especially the ones that have emerged since 2012, have paid homage to the iconic Memphis group in some sort fashion. This year alone, we’ve heard Cardi B, Rae Sremmurd, G-Eazy and many more sample or interpolate their songs. However, the possibilities Juicy J joining forces with the rest Three 6 Mafia seems to be in the air.
DJ Paul recently spoke to Complex about the possibilities a Three 6 Mafia reunion. Although he’s down for it, he claims that one the co-founders had “resigned” from the group.
“Me and him had a conversation maybe four months back,” Paul told Complex. “What he told me was, ‘I’m done with Three 6 Mafia and I’m just gonna keep moving forward with my solo stuff.’ His solo stuff has been successful, so I wasn’t tripping out. Everyone has seen it coming. Me and him haven’t worked together in years.”
However, Juicy J’s manager seemed to tell a different story.
“He’s not resigning from the group,” Juicy’s manager Ray said. “We still planning in the future to] do some Three 6 Mafia stuff.”
Paul stood by his initial stance and said that he doesn’t deal with Juicy J’s manager. He said that he and Juicy J deal with each other, the same way they have for the past 25+ years. However, DJ Paul is still down for a reunion, if it’s done in the right way.
“If it comes back and is] done right, I’m down with it. It just has to be written out. It has to be like a movie. It has to be planned out right, have all the right parts, and then we can press play.” He said.
Late last night we found out about a scandal rocking the Nike head fices. President and heir apparent Trevor Edwards has resigned in the face workplace issues being cited with the organization. Edwards set an August deadline for his resignation. He could be forced out fice depending on the seriousness the accusations.
Now within 24 hours, yet another high ranking ficial has fled the coop over similar same issues “inappropriate workplace behavior.” Nike’s vice president and general manager global categories Jayme Martin has been unseated effective immediately. Martin had been a close ally Todd Edwards since joining the company in 1997.
Nike CEO and chairman Mark Parker sent the following memo through internal mail, explaining the resignations and the ensuing investigation:
“Over the past few weeks, we’ve become aware reports behavior occurring within our organization that do not reflect our core values inclusivity, respect, and empowerment at a time when we are accelerating our transition to the next stage growth and advancing our culture,”
These accusations follow a wave corruption and misconduct charges at the corporate level. Whistleblowers need not apply. Keep it locked for details as they become available to us.