The network said on Monday it was in the process of picking an outside counsel to lead an independent investigation into the matter.
The board announced its action in a statement Monday, delaying a decision on the fate of the 23-year company veteran.
Some board members this weekend spoke about whether Moonves should step aside during the probe, one source said. It was not clear why the board chose to reschedule that meeting. The Board will determine a new record date for the 2018 annual meeting of stockholders and will publicly disclose the new date, time and location.
Directors are considering appointing a special committee to oversee its investigation, which will cover not only the specific allegations but also overall company culture.
In Farrow's New Yorker story, six women accused Moonves of sexual harassment, with four of them accusing the CEO of forcibly touching or kissing them during business meetings, and two saying he physically intimidated them or threatened to derail their careers.
Following the publication of the New Yorker story, some senior female CBS executives have expressed support for Moonves, including Jo Ann Ross, the company's president and chief advertising revenue officer, and Angelica McDaniel, an executive vice president of daytime programming.
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CNN has not independently confirmed the allegations. Those were mistakes, and I regret them immensely. Moonves issued a statement apologizing for some of his past actions but reiterated that he never used his position of power to hinder anyone's career.
He added, "This is a time when we all are appropriately focused on how we help improve our society, and we at CBS are committed to being part of the solution".
The statement from the board also did not address claims in The New Yorker about the culture at "60 Minutes" and its executive producer Jeff Fager.
The board of CBS is pondering CEO Les Moonves's future-and possibly the future of the network.
It's a question media watchers will monitor closely, and one that might have enormous consequences for CBS and even broadcast TV.
Corporate governance experts said there could be several reasons why CBS's board may not want to fire Moonves, including its fiduciary duty to shareholders to minimize the company's legal liabilities. That made him one of the highest-paid CEOs in the country past year, according to an Equilar review of S&P 500 companies.