The shareholders of Warner Bros. Discovery have chosen not to approve the 2024 remuneration plans for the company’s leading executives, which includes CEO David Zaslav, in a recent vote.
On Monday, WBD convened its yearly meeting, and in a “Say on Pay” vote, shareholders rejected the proposal by a significant difference of 1,063 billion votes in favor versus 724 million votes against. The proposed compensation package for Zaslav in 2024 was raised to $51.9 million.
Monday marked the annual gathering for WBD, and during a “Say on Pay” vote, shareholders turned down the proposition by an overwhelming margin of 1,063 billion votes in favor compared to 724 million votes against. The proposed remuneration package for Zaslav in 2024 increased to $51.9 million.
The vote carries a symbolic weight, as it’s non-binding, but other media and entertainment companies have still revised their remuneration structures following the rejection of their pay packages by shareholders. For instance, Netflix overhauled its executive compensation structure after its shareholders voted against it in 2023.
In the same year, AMC Theatres shareholders turned down the proposed compensation package for their CEO, Adam Aron. Notably, the entertainment sector often ranks high when it comes to total executive compensation across various industries.
During the 2024 annual meeting, WBD’s executive compensation packages were narrowly accepted by shareholders. This year, Institutional Shareholder Services, a significant advisory firm for shareholders, suggested that shareholders should vote against these compensation plans due to a lack of appropriate responsiveness and a clear mismatch between pay and performance.
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2025-06-04 00:54