Warner Bros. Discovery, Inc. (WBD, Financial) has announced a strategic expansion of its Board of Directors, increasing its size to fourteen members. This decision, effective immediately following the company's 2025 Annual Meeting of Stockholders, aligns with the company's Second Restated Certificate of Incorporation and Amended and Restated Bylaws.
As part of this expansion, the Board has appointed Anton Levy, an Advisory Director at General Atlantic, to join its ranks. Mr. Levy's appointment will become effective immediately after the 2025 Annual Meeting of Stockholders, with his initial term extending until the 2026 Annual Meeting. The Board has determined that Mr. Levy qualifies as an "independent director" under NASDAQ listing rules.
Mr. Levy brings a wealth of experience from his tenure at General Atlantic, where he has been instrumental in leading significant investments in prominent technology companies such as Airbnb, Alibaba Group, and Uber, among others. His extensive background in investment and value creation is expected to contribute significantly to Warner Bros. Discovery's strategic objectives.
In terms of compensation, Mr. Levy will receive stock retainers valued at $240,000 and cash retainers of $105,000, as part of the revised compensation program for non-employee directors, which was updated following the company's 2024 Annual Meeting of Stockholders.
This appointment underscores Warner Bros. Discovery's commitment to strengthening its leadership team with seasoned professionals who can drive the company's growth and innovation in the competitive media landscape.
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