US EditionWarner Bros to Cut David Zaslav’s Pay Package Following Shareholder Rebuke
- Warner Bros. Discovery revealed plans to separate into two independent publicly listed companies next year, with CEO David Zaslav taking charge of the streaming and studios division.
- The split follows shareholder disapproval of executive pay, prompting the board to initiate new compensation agreements that reduce Zaslav's target annual compensation.
- Under the new plan, Zaslav will keep a $3 million base salary, have his bonus cut from $22 million to $6 million, and receive equity awards initially valued at $15.5 million, declining to $7.5 million annually thereafter.
- Zaslav has been awarded approximately 20.9 million stock options valued at $225 million, divided between options that vest based on performance and those that vest over time, aiming to align his interests with the creation of long-term shareholder value.
- The restructuring aims to foster pay-for-performance alignment and value creation while positioning the two companies for success following the mid-2026 separation.
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Warner Bros. Discovery CEO handed major pay cut after $51.9 million 2024 salary
WARNER Bros. Discovery is splitting into two companies, and the higher-ups are seeing a major slash in pay because of it. Company executives David Zaslav and Gunnar Wiedenfels are having their compensation drastically reworked due to shareholder feedback. ReutersDavid Zaslav is taking a massive paycut during WBD’s split into two companies[/caption] GettyZaslav made over $50 million last year[/caption] WBD is set to “significantly reduce” annual …
·New York, United States
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