On Friday, a New Yorker article quoted six women spanning three decades accusing Moonves of sexual harassing them.
Chen, who has been married to Moonves for 14 years, then turned to the camera and said, "Some of you may be aware of what's been going on in my life the past few days".
"If you (CBS) were to take action today and you are wrong, you open yourself up to potential liability", said Charles Elson, director of the Weinberg Center for Corporate Governance at the University of Delaware.
The company is also scheduled to report quarterly earnings on Thursday and hold its annual shareholder meeting on Friday in Pasadena, California on August 10.
CBS says it will take "no other action" than hiring an outside lawyer to look into allegations of sexual misconduct against its top executive Les Moonves. "But I always understood and respected - and abided by the principle - that "no" means 'no, ' and I have never misused my position to harm or hinder anyone's career", Moonves, who serves as CBS's executive chairman and CEO, said. He has always been a kind, decent and moral human being.
One of the accusers, actress Illeana Douglas, alleged he violently kissed her.
Moonves, who transformed CBS into a ratings victor after joining the network in 1995, is one of the most powerful American men implicated in the #MeToo era that ignited previous year after the career implosion of Harvey Weinstein.
"I recognize that there were times decades ago when I may have made some women uncomfortable by making advances", Moonves said. I fully support my husband and stand behind him and his statement.
CBS's lack of immediate action against Moonves was a "slap in the face to the fearless women who came forward", said Melissa Silverstein, founder of the blog Women and Hollywood, in a Twitter post, as social media reacted quickly to CBS's announcement. He has also been waging a battle for independence with mogul Shari Redstone, who wants to combine CBS with its sibling company Viacom. CBS has had little time to react, and the piece is already eating into the company's stock price.
Moonves has headed CBS Corporation since 2016.
Another 30 current and former CBS employees described to The New Yorker a culture of gender discrimination at the network, with men being promoted over women despite allegations of misconduct.