CBS Corporation announced Leslie Moonves’s departure from the company as chairman and CEO.

While the Board conducts a search for Moonves’s successor, COO Joseph Ianniello will serve as president and acting CEO. The decision of Moonves’s exit comes after The New Yorker published the accounts of six women with allegations of sexual assault or misconduct against him. Moonves and CBS will donate $20 million to one or more organizations in support of the #MeToo movement and workplace equality, the amount of which will be deducted from any severance package he will receive.

Moonves joined CBS Corporation in 1995 as CBS Entertainment president, and became chairman and CEO of CBS Corp. in 2006.

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