Photo: Adam Jeffery/CNBC/NBCU Photo Bank via Getty Images

CBS Corporation announced Sunday night that longtime leader Les Moonves will depart as chairman, president, and CEO. The announcement comes just hours after a second Ronan Farrow report in The New Yorker in which six more women alleged sexual misconduct by the television veteran.

Why it matters: Moonves is one of the most high-profile executives to be brought down by the #MeToo movement. His departure comes after weeks of inaction from CBS' board, which had drawn a great deal of criticism from advocacy groups.

The details:

  • The replacement: CBS COO Joe Ianniello will now serve as president and acting CEO, something insiders have long anticipated.
  • Board shakeup: CBS is getting rid of six board members, who voted to dilute its parent company shares, and is adding six new board members, including three women.
  • The terms: CBS also announced a settlement to end its legal battle with majority shareholder Shari Redstone and her holding company National Amusements Inc. NAI reaffirmed its previous position that it won't continue to push CBS to merge with its former sister company Viacom.
  • No payday: Moonves has been stripped of his $100 million-plus severance package due to the allegations. In a statement, Moonves and CBS said that they will donate $20 million of Moonves' severance to advocacy groups who support the #MeToo movement.

Go deeper: New Moonves accusations prompt reports of his imminent departure.

Go deeper

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China-Iran deal envisions massive investments from Beijing

Illustration: Aïda Amer/Axios

China and Iran have negotiated a deal that would see massive investments flow into Iran, oil flow out, and collaboration increase on defense and intelligence.

Why it matters: If the proposals become reality, Chinese cash, telecom infrastructure, railways and ports could offer new life to Iran’s sanctions-choked economy — or, critics fear, leave it inescapably beholden to Beijing.

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Coronavirus dashboard

Illustration: Aïda Amer/Axios

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  2. U.S.: Total confirmed cases as of 7 p.m. ET: 3,353,348— Total deaths: 135,524 — Total recoveries: 1,031,856 — Total tested: 40,282,176Map.
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House Judiciary Committee releases transcript of Geoffrey Berman testimony

Geoffrey Berman. Photo: Alex Wong/Getty Images

The House Judiciary Committee on Monday released the transcript of its closed-door interview with Geoffrey Berman, the former top federal prosecutor in Manhattan who was forced out by Attorney General Bill Barr last month.

Why it matters: House Democrats have seized on Berman's testimony, in which he claimed the attorney general sought to "entice" him into resigning so that he could be replaced by SEC chairman Jay Clayton, to bolster allegations that the Justice Department has been politicized under Barr.