His current employment contract, which was reviewed by The New Yorker, lays out a number of grounds for firing him, including violating the company's sexual-harassment policies. But the contract also allows him to depart of his own volition, with generous compensation, for a range of reasons, including any diminishment of his responsibilities, or, if, at any time, a majority of the CBS board members change. That proviso has given Moonves sway over the makeup of the board—the group now responsible for investigating him. The vast majority of board members are allied with Moonves in an ongoing legal battle between Shari Redstone, the president of the holding company that controls Viacom and CBS, who has sought to merge the companies, and Moonves, who has resisted that effort. (None of the women who made allegations about Moonves in this story were familiar with, or linked to, the corporate battles at CBS.)
The board appointed two law firms, Covington & Burling and Debevoise & Plimpton, to investigate the allegations against Moonves. A number of individuals whom the firms have asked to interview said that they were concerned about the independence of the two firms, given the large amount of legal work they do for CBS. "If you knew how much money these firms were making from the mergers and acquisitions and the business side of CBS, there's no way you'd think they're impartial," one former executive who occupied senior positions on the CBS and Viacom legal teams told me. (Representatives for both law firms declined to comment.)