COO Joseph Ianniello was announced as president and acting CEO "while the Board conducts a search for a permanent successor".
CBS and controlling shareholder National Amusements Inc could not immediately be reached for comment on Sunday.
Investors had long respected Moonves. In the late 1980s, he was an executive at Lorimar Television.
Ronan Farrow, a contributing writer for the New Yorker, speaks with reporters at Associated Press headquarters in NY, on July 27, 2018. Now, especially with a new wave of consolidation in the media sector, CBS is all but for sale, said Greenfield.
CBS said in its announcement Sunday that the company would donate $20 million to organizations that support gender equality in the workplace. While he's continued to work at the network amid the scandal, Moovnes is now negotiating his exit, which may result in a $100 million severance package. As the year began, talks were heating up with one-time corporate sibling Viacom about a re-merger, though other, larger players reportedly also were expressing interest.
Five current independent directors and one National Amusement-affiliated director have stepped down from the board of directors and 6 new directors have been elected, the company said. The idea of such a deal had been a source of tension for CBS management.
Shares of CBS are moving higher before the opening bell in what will be the first day of trading after the ouster of Les Moonves, the company's chairman.
At another time, she said an angry Moonves pushed her hard against a wall.
President Trump tweeting about National Football League before openers
National Football League officials said they would put the policy on hold to discuss a solution with the union. Those discussions remain ongoing.
The donation, to be made immediately, has been deducted from severance benefits that may be due Moonves following the CBS board's ongoing independent investigation into accusations against him.
The Pulitzer Prize winning investigative reporter detailed allegations, including sexual assault, from six additional women against the 68-year-old Moonves, who had already been accused of sexual harassment by former CBS staffers last month.
Phyllis Golden-Gottlieb spoke out on ABC News' "Good Morning America" a day after Moonves resigned as chairman and chief executive after the online publication of a bombshell article in the New Yorker magazine in which six women said they had either been sexually abused by Moonves, had their careers destroyed for rebuffing his alleged advances or both. The author was Ronan Farrow, whose reporting previously helped topple Weinstein. Moonves denied the charges, although he says he had consensual relations with three of the women.
Moonves joined CBS in 1995 as entertainment president. The company is still full of executives who have been loyal to Moonves.
Viacom and CBS first merged in 1999, and split up in 2005. Jo Ann Ross, the head of advertising sales, has worked at CBS for 25 years. It's not typical to see the CEO of the company speak directly to advertisers.
Moonves had repeatedly sought written assurances that he could operate CBS without too much interference from the Redstones.
CBS has hired two outside law firms to investigate the allegations now made by 12 women against Moonves. All six of the women were named.