ViacomCBS said Thursday it investigated and subsequently cleared chief executive Bob Bakish following an allegation of sexual misconduct.
The US media-entertainment giant offered no details but confirmed a report that its board had conducted an independent review of the matter and ultimately took no action.
"The board takes any allegation of this type seriously," a company spokesperson said.
"An independent review of the alleged incident has concluded, and the investigation did not support the allegation."
The claim centered on alleged improper touching of another employee at a 2016 holiday party when Bakish was acting CEO at Viacom, according to a report by the news site The Information.
Bakish became CEO at Viacom a year later and then became head of the group after its merger in 2019 with CBS, whose CEO Les Moonves was ousted amid sexual misconduct allegations.