Disgraced CBS chief executive Les Moonves is not expected to receive a single dime of what has been reported to be north of a $120 million severance package, after an independent investigation into multiple allegations of sexual misconduct.

“We have determined that there are grounds to terminate for cause,” the CBS board of directors said in a statement according to The Wrap, The company pointed to his “willful and material misfeasance, violation of Company policies and breach of his employment contract, as well as his willful failure to cooperate fully with the Company’s investigation.”

Indeed the news comes just a week after a 59-page report stated that Les Moonves “engaged in multiple acts of serious nonconsensual sexual misconduct in and outside of the workplace, both before and after he came to CBS in 1995,” says a report, published by the New York Times.

Moonves joined CBS in 1995 and helped make it America’s most watched network, helping to shepherd hit TV shows like Survivor, How I Met Your Mother, and Big Bang Theory. He was first accused in July of sexual misconduct by six women, dating back decades. He staunchly denied these allegations. L.A. prosecutors didn’t charge Moonves for sex abuse crimes for alleged assaults.

Months later, the longtime TV titan was hit with a fresh round of accusations from six more women who told The New Yorker that Moonves forced them into unwanted sexual situations. Some said he hurt their careers when they refused his sexual advances.

Read the full statement from the CBS board of directors below: