Shareholder watchdog wants to pump brakes on Zaslav payout
AV Club • • business
Key Points:
- Warner Bros. Discovery CEO David Zaslav is set to earn $886 million from the sale of the company, a significant payout despite his controversial management decisions.
- The Institutional Shareholder Services (ISS), a key proxy advisory firm, approved the sale to Paramount but criticized the size of Zaslav's golden parachute.
- ISS highlighted that the "excise tax gross-up" approved by the WBD board is an excessive cost and inconsistent with common market governance practices.
- While ISS supports the overall sale due to a competitive bidding process, it finds Zaslav’s compensation package unusually high and problematic.
