If you’ve been keeping tabs on Warner Bros. Discovery’s tumultuous path over the past few years, it might seem like a string of issues have arisen since David Zaslav took on the CEO role in 2022. Among other controversial moves, Zaslav has spearheaded the transition from HBO Max to Max (and now the reverse transition back to HBO Max), the shelving of Batgirl, the cancellation of Coyote vs. ACME, the shutdown of CartoonNetwork.com, and numerous other choices that have raised eyebrows. Throughout all this turmoil, it appeared as though there were no consequences for doubtful decision-making. However, now it appears that Zaslav will face a pay reduction. While this “significant” decrease in salary is said to be connected to the company’s division into two separate entities, each with its own CEO, we can’t help but feel that it serves as a fitting consequence.
Indeed, even on his leanest earning day and following a potential decrease in salary, David Zaslav earns more than most of us could ever imagine. Nevertheless, it seems unusual that CEO pay reductions are not more frequent occurrences. It’s hard not to feel that this should be the norm. Here’s what we understand.
According to Deadline’s report, Warner Bros. Discovery has disclosed in an SEC filing that their new CEOs have revised pay structures. Notably, David Zaslav’s new contract will see a substantial decrease in his potential annual compensation, with less emphasis on yearly cash earnings and a greater focus on long-term incentives. This adjustment aims to promote a closer alignment with shareholders and encourages the creation of lasting, long-term value.
Recently this month, shareholders of Warner Bros. Discovery expressed their dissatisfaction by voting against the proposed 2024 compensation plan for CEO Zaslav, worth $51.9 million. This vote was more of a statement than a binding decision, but it appears that the message has been received.
After suffering a significant pay cut, David Zaslav’s current contract as the head of the new Studios & Streaming company extends through December 2030. His annual base salary remains at $3 million, but his opportunity for an annual cash bonus has been significantly reduced from $22 million to just $6 million. His actual payout is contingent upon achieving performance goals. In his first year, Zaslav’s annual equity bonus target value will drop from $23.5 million to $15.5 million and then settle at $7.5 million per year thereafter.
However, there’s no need to fret, as there are still substantial stock options amounting to millions of dollars, a monthly car allowance of $1,400, and the privilege to use private planes for personal purposes totaling 125 hours annually. Even with a potential pay reduction, it’s unlikely that Zaslav would commute like the general public, wouldn’t you agree?
In the end, Zaslav remains wealthy, yet unpunished for certain questionable choices. However, we’ll seize victories as they come… and urge businesses to respect creators’ rights!
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2025-06-17 18:02