Before merging Discovery with Warner Bros., CEO David Zaslav’s salary was $246.6 million a year (in 2021). At this year’s WBD annual meeting, the majority of the company’s shareholders rejected Zaslav’s salary package of $51.9 million. Being the rejection symbolic, the salary of Zaslav (pictured) remains unchanged.
Since the 2022 merger, Warner Bros. Discovery’s stock has fallen about 59 percent. However, the rejection of the compensation packages of Zaslav and other top executives is said to be related to the downgrade by S&P Global Ratings of Warner Bros. Discovery debt to junk status, primarily caused by revenue decline and the challenges facing its cable network division.
Last December Warner Bros. Discovery restructured into two operating divisions: One for its linear networks (including CNN, The Food Network, and Discovery) and the other focused on its streaming — HBO Max (renamed from MAX) — and production businesses.
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