10:29 AM EDT, 06/17/2025 (MT Newswires) -- Warner Bros. Discovery ( WBD ) said Chief Executive David Zaslav will have his annual compensation "significantly" reduced after the anticipated separation of the company, according to a filing with the US Securities and Exchange Commission on Tuesday.

The company said last week that it intends to separate into two publicly traded media companies by mid-2026. Following the separation, Zaslav is expected to lead Streaming & Studios as CEO, while Chief Financial Officer Gunnar Wiedenfels will serve as the CEO of Global Networks, Warner said.

Zaslav and Wiedenfels have received new employment agreements tied to the planned separation, the company said Monday.

Following the separation, Zaslav will serve as CEO of Streaming & Studios through Dec. 31, 2030. His base salary would be lowered to $3 million, and his target annual bonus would fall to $6 million, with equity awards beginning at $15.5 million and dropping to $7.5 million annually, the company said.

Warner said Wiedenfels would serve as CEO of Global Networks through 2031 with an annual base salary of $2.5 million and a target annual bonus equal to 350% of that salary. Wiedenfels would also be eligible for $16 million in annual equity awards, split between time-based restricted stock and other forms of equity compensation, the company said.

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