David Zaslav, the unfortunate CEO of the company formerly known as Warner Bros. Discovery (the company, which was formerly two separate companies, but became one, is again divided), he has often been accused of being bad in his work, and now it seems that people who pay their salary may agree.
A New report From the deadline it is found that Zaslav is expected to receive a considerable reduction in payments this year. Citing a recent presentation of the Sec, Deadline states that a new trade agreement will “significantly reduce its objective annual compensation, including the reduction of its annual cash compensation opportunity and reorienting the total combination of long -term incentives.” This change “will foster a stronger alignment with shareholders and encourage the creation of long -term value value,” says the document.
By 2023, Zaslav’s compensation pack was substantially driven by what had been in 2022. Zaslav received a package of about $ 50 million. He represented An increase of 26.5 percent During the previous year, it was a total of $ 39.2 million. Payments were compared compared to 2021 when Zaslav technically made $ 246 million From the actions options they were attached to a new multi -year employment contract with the company.
Now, Zaslav will have their reduced and horn salaries, in order to “align” them with a model of “performance payment” defended by shareholders, a statement by the President of the WBD Council, Samuel A. Di Piazza Jr., told Deadline. The starting out to the new Zaslav Pay thus:
Following the separation, Zaslav will have a contract until December 31, 2030 and a base salary of $ 3 million a year. Your annual annual cash bonus will be reduced to $ 6 million, with the actual payment depending on the achievement of performance objectives established by the Committee of Compensation of Streaming and Studios. The payment of annual bonuses is subject to a 200% lid of the target amount. Zaslav will also qualify for the annual capital awards after the separation in the incentive plan of the Streaming & Studios company. The target value of the prizes will be $ 15.5 million in the first year Zaslav receives a capital of Streaming & Studios capital and will decrease to an annual objective value of $ 7.5 million a year later.
Zaslav assumed power in Warner Bros. Discovery immediately after the merger between the two, and their strategy (which has often been criticized by consumers and fans) was to start cutting expenses and projects while overseeing a large number of layoffs. The company’s re-division has mocked quite online, although Zaslav has made a happy turn on development: “The cultural importance of this great company and the shocking stories that have given life for more than a century have touched countless people worldwide,” he said, in a statement associated with the division. “It is a bold legacy that we will continue proud in this next chapter of our famous story.”
