Warner Bros. Discovery Slashes CEO Zaslav's Pay

Warner Bros. Discovery (WBD) will split into two companies by mid-2026, prompting a significant revision of CEO David Zaslav's compensation package. Zaslav's annual cash bonus target will be reduced from $22 million to $6 million, while his equity award target will start at $15.5 million and decrease to $7.5 million in following years. He has also been granted stock options potentially worth up to $225 million, contingent on meeting specific company performance targets. The changes follow substantial shareholder backlash and are designed to better link executive compensation with shareholder interests and company performance. Zaslav will continue as CEO of the new streaming and studios entity, and CFO Gunnar Wiedenfels will head the networks spinoff. The split is expected to be completed by mid-2026.