Warner Bros. Discovery shareholders in a symbolic vote reject David Zaslav’s $51.9 million pay package

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At the recent Warner Bros. Discovery (WBD) gathering held on June 2, 2025, shareholders expressed disapproval towards the compensation plans for CEO David Zaslav and other high-ranking executives within the company.

At the yearly gathering in 2025, a “Say on Pay” vote took place. This allowed shareholders to voice their thoughts regarding the remuneration of the company’s executives. Though it was merely advisory and non-binding, the results showed what Warner Bros. Discovery investors felt about executive pay, with the majority of shares casting a “no” vote on compensation packages (as reported by Variety).

Furthermore, while it may appear symbolic, it doesn’t imply there won’t be any consequences. Historically, various firms have modified their executive remuneration substantially following shareholders’ refusal of proposed compensation packages. For instance, Netflix took such action in the year 2023.

In the year 2024, David Zaslav’s overall remuneration package increased by 4%, reaching an impressive total of $51.9 million, as detailed in the company’s most recent proxy report. This sum was comprised of a base salary of $3 million, stock awards valued at $23.1 million, a bonus of $23.9 million, and additional compensations amounting to $1.9 million. In comparison, his pay package for the previous year was worth $49.7 million, marking a significant increase of 26.5% over the remuneration he received in 2022.

In addition to discussing the CEO’s compensation for 2024, the conversation also covered the remuneration of other top Warner Bros Discovery executives. Here are their pay packages:

– Gunnar Wiedenfels, CFO, received $15 million, the same as in 2023.
– Bruce Campbell, chief revenue and strategy officer, saw an 8% increase to $19.8 million.
– J.B. Perrette, global streaming and games CEO and president, experienced a 2% decrease to $19.7 million.
– Gerhard Zeiler, international president, received more than 11% more, totaling $14.8 million.

In yesterday’s ballot, a total of 724,453,004 shares expressed support for the proposed compensation packages, whereas a slightly larger number of 1,063,214,128 shares cast their votes against them.

Warner Bros. Discovery’s board of directors has shared a statement regarding the issue, as detailed further down this text.

The Warner Bros. Discovery Board values input from all its stockholders and carefully considers the outcome of the yearly vote on executive pay. The Compensation Committee, in turn, is eager to maintain regular conversations with our stockholders, fostering a productive dialogue.

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2025-06-04 13:02