CBS Corp's (CBS.N) board left Chief Executive Leslie Moonves in his post on Monday as it discussed sexual harassment claims against him and took steps to select an outside counsel to lead an independent investigation into the matter, the company said in a statement.
The entertainment mogul was suspended from the board of the USC School of Cinematic Arts Wednesday.
Bucknell President John Bravman wrote in a note to the university that Bucknell "will not stand for sexual misconduct", according to a university spokesperson who said the school is evaluating if it will take "any additional actions that may be appropriate".
The investigation by the law firm Debevoise & Plimpton will be led by Mary Jo White, a former chair of the U.S. Securities and Exchange Commission, CBS said.
CBS said on Monday it would postpone its 2018 annual shareholder meeting that was previously scheduled for August 10 to an unspecified date.
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The media center was named the "Julie Chen/Leslie Moonves and CBS Media Center" following a pledged gift from the couple in 2015. Four of the women allege forcible touching or kissing during business meetings and two others say he intimidated them or threatened their careers when they refused his advances. I recognize that there were times decades ago when I may have made some women uncomfortable by making advances.
CBS said affiliate and subscription fees revenue, which includes revenue from cable, satellite and streaming TV providers, rose to US$989 million from US$848 million a year before. "Those were mistakes, and I regret them immensely".
The school said in a statement: "The USC School of Cinematic Arts has suspended Lee Moonves from its Board of Councilors".
CBS issued a statement last Friday vowing to investigate the allegations. "But I always understood and respected - and abided by the principle - that "no" means 'no, ' and I have never misused my position to harm or hinder anyone's career".
The board did not vote on whether to suspend Moonves, however. "The board ... takes these allegations seriously and is committed to acting in the best interest of the Company and all of its shareholders, and is confident that the employees of CBS will continue to perform at a high level as this process unfolds".