David Zaslav’s generous — and unpopular — pay package is about to change.
In the process of Warner Bros. Discovery splitting apart, with the television networks and streaming service Discovery+ becoming a standalone company, the WBD Compensation Committee is making adjustments to David Zaslav’s pay package.
This way, it becomes clear that the change in compensation structure for Zaslav is happening as part of the split, not just an isolated event within Warner Bros. Discovery.
As a gamer, I’m excited to share that Zaslav, the big boss at Warner Bros. Discovery, is sticking around with the studios and HBO Max – you know, where all the awesome content is! His right-hand man, Gunnar Wiedenfels, will take over as CEO of the new company that spins off from this powerhouse.
The WBD compensation panel asserts that they have revamped Zaslav’s remuneration plan to motivate him more effectively for his crucial input. From now on, a significant portion of his pay will be dependent on the company’s overall stock performance; no longer will simply reducing debt and increasing cash flow suffice for compensation purposes.
According to a source familiar with the arrangement, Zaslav will receive fewer dollars in cash and more company stocks. Regardless of how you look at it, his income is decreasing, as reported by The Hollywood Reporter.
Despite the decision being initiated by the board and compensation committee, it was essentially a reaction to a shareholder vote that occurred earlier this month. Shareholders of WBD strongly opposed Zaslav’s generous executive compensation package in the recent vote. Although the vote wasn’t legally binding, it undeniably influenced today’s announcement.
One aim in this context is to “respond to shareholders’ opinions and wishes regarding the structure of CEO pay,” stated WBD in their SEC filing on Monday.
2024 found me, as a gamer and media enthusiast, witnessing an unexpected twist in the storyline. For years, I’ve admired Zaslav’s strategic moves that made him one of the industry’s top earners. However, when the shareholders of WBD, the company he led, saw their investments nosediving, while his own compensation package soared past $50 million, it was no longer a matter of applause, but a cause for concern.
The startup’s new incentive program, which began last week, grants approximately 21 million stock options. Of these, 60% are performance-vested, meaning they become available based on the company’s achievements, while the remaining 40% will vest over time regardless of performance.
Under the new system, Zaslav’s bonus targets – both cash and stock options – will change dynamically. His fixed salary will amount to $3 million. The maximum potential cash bonus he can receive annually is reduced to $6 million, but the actual payout will depend on future performance criteria, with a cap of double the target amount being paid out. Additionally, his equity awards will have an initial value of $15.5 million in the first year, which will decrease to $7.5 million for subsequent years.
So he’s not exactly going to the poorhouse.
Zaslav’s golden parachute has undergone limited adjustments, while the targets themselves have significantly shifted. The modifications made to Wiedenfel’s package were minimal and unspectacular.
Read More
- How Angel Studios Is Spreading the Gospel of “Faith-Friendly” Cinema
- Hero Tale best builds – One for melee, one for ranged characters
- Gold Rate Forecast
- Comparing the Switch 2’s Battery Life to Other Handheld Consoles
- Castle Duels tier list – Best Legendary and Epic cards
- EUR CNY PREDICTION
- Mini Heroes Magic Throne tier list
- USD CNY PREDICTION
- 9 Most Underrated Jeff Goldblum Movies
- Pop Mart’s CEO Is China’s 10th Richest Person Thanks to Labubu
2025-06-17 02:24