It appears that a large number of Warner Bros. Discovery shareholders, during their 2025 annual meeting, expressed the view that CEO David Zaslav and other high-ranking executives are receiving excessively high compensation.
At WBD’s yearly shareholder gathering on June 2nd, the proposed “advisory” motion concerning the 2024 remuneration plans for Zaslav and other key executives was rejected by the investors, as indicated in a Securities and Exchange Commission (SEC) filing. This type of vote is often referred to as a “say-on-pay” vote, which allows shareholders to voice their approval or disapproval regarding executive compensation.
According to the WBD’s reported results, a total of 1.78 billion shares were cast in the vote regarding the executive compensation package. Out of these, about 724.5 million votes were in favor (around 40%), while a significant majority – approximately 1.06 billion votes – were against the measure (about 60%). Furthermore, there were also 5.69 million shares that did not cast a vote (abstentions) and 307.38 million shares where brokers chose not to vote.
Warner Bros. Discovery’s board expresses gratitude for the opinions of all shareholders and gives weight to the outcomes of the yearly advisory vote on executive pay. The Compensation Committee of the Board is eager to carry on having meaningful conversations with our shareholders.
In 2024, the remuneration package for Zaslav increased by 4%, totaling approximately $51.9 million, as outlined in the company’s most recent proxy filing. His base salary was set at $3 million, while he received stock awards valued at $23.1 million, bonus compensation of $23.9 million, and other forms of remuneration amounting to $1.9 million.
In 2021, Zaslav received a massive pay package worth approximately $246.6 million, marking a significant increase of around 85.7% from his 2022 compensation of $39.3 million. His earnings in 2023 were even higher, amounting to $49.7 million, representing a rise of nearly 26.5% compared to the previous year.
Here are the compensation packages for Warner Bros. Discovery’s top executives in 2024:
– Gunnar Wiedenfels, CFO, received a salary of $17 million, which remained unchanged from his 2023 earnings.
– Bruce Campbell, chief revenue and strategy officer, saw an increase of 8%, earning $19.8 million in 2024.
– J.B. Perrette, global streaming and games CEO and president, received a compensation package of $19.7 million, marking a decrease of 2% compared to his 2023 earnings.
– Gerhard Zeiler, international president, experienced an increase in pay more than 11%, receiving $14.8 million in 2024.
SEE ALSO: Media CEO Pay Packages in 2024: The Air Up There
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2025-06-04 01:18