Leslie Moonves won't get a $120 million payout

CBS concluded its investigation into sexual misconduct allegations against former CEO Leslie Moonves and has decided to deny his $120 million severance. Management professor Tim Hubbard speaks to the culture change needed in companies in an Entertainment Weekly article.

“The company has been entangled in sexual harassment controversies and must try to bring back its reputation,” said Hubbard, who specializes in behavioral strategy. “CBS had to send a signal to employees and other stakeholders that these actions will not be tolerated within the company. This action should also serve as a signal to other executives that the public and boards of directors are tiring of allegation after allegation of sexual misconduct from executives. Hopefully, such a large penalty will start to change the culture of CBS — and firms across the world.”