A Major Pay Cut to a Whopping $39 Million is Forecasted for Warner Bros. Discovery Chief Executive in the Year 2022
It has been made public that the salary package of Warner Bros. Discovery CEO David Zaslav for 2022 will be drastically lower than in 2021.
Variety reported that a Securities and Exchange Commission (SEC) filing disclosed the remuneration of WBD’s CEO in 2022 – an astonishing USD 39.3 million, with only $3.1 million from his salary! In addition to his salary, Zaslav was rewarded with stocks and other non-equity incentive plans. Despite the sizeable amount of these awards compared to an average income, they still signified a significant drop in overall earnings from 2021.
In 2021, Zaslav received an unprecedented USD 246.6 million compensation package, mainly due to his record-breaking stock option of USD 203 million. This is a remarkable increase compared to his modest sum in 2020: only $37.7 million. Furthermore, WBD released detailed reports of other executives’ compensations; for instance, Chief Financial Officer Gunnar Wiedenfels earned a total salary of USD 13.5 million in comparison to his 2021’s earnings of USD 11.3 million, and the company’s Chief Revenue & Strategy Officer Bruce Campbell made an impressive income of 13.7 million USD compared to 12.6 million this time last year and so on. It seems that everyone has experienced a decline in their salary.
Under tremendous pressure to extinguish its debt and reduce personnel, WBD has undertaken a pay cut. As Samuel A. Di Piazza Jr., chairperson of WDB’s board, declared in an official statement about this change in executive compensation, “The WBD board is confident that these additional incentives offer a more competitive package against the backdrop of ongoing industry-wide transformation and economic headwinds and better position the company to advance core drivers of shareholder value.”
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