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David Zaslav’s Pay To Be “Substantially” Lowered Ahead Of Split, WBD Says, But CEO Will Still Reap Rewards
Warner Bros. Discovery CEO David Zaslav is due to have his compensation "substantially" reduced after shepherding its split into two companies, but he will also reap a substantial reward for his efforts.
In an SEC filing Monday, the company said it had revised the pay packages of Zaslav and CFO Gunnar Wiedenfels, who is poised to become CEO of the TV networks entity that will result from the split. In adjusting Zaslav’s pay, the committee considered “a range of inputs,” the filing noted, “including stockholder feedback obtained over the last few years, peer group practices and benchmarks, strategic priorities of WBD and the value creation opportunities” inherent in the split. Zaslav, who has reaped hundreds of millions in compensation over the course of his media career, often ranking near the top of all U.S. corporate execs, recently received a rebuke from WBD shareholders.
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