Warner Bros. Discovery, Inc. (NASDAQ: WBD) has announced the transition of Dr. John C. Malone to the role of Chair Emeritus, effective upon the expiration of his term at the 2025 annual meeting of stockholders. As Chair Emeritus, Dr. Malone will provide strategic counsel and support to the board and management team.
The company intends to nominate Anton Levy for election by stockholders at the annual meeting. With the addition of Mr. Levy and Dr. Malone’s decision not to stand for election, the board will continue to be comprised of 13 directors, 12 of whom will be independent, following the annual meeting.
Warner Bros. Discovery is a leading global media and entertainment company available in more than 220 countries and territories and 50 languages. The company's portfolio includes iconic brands such as Discovery Channel, HBO, CNN, TNT, HGTV, Food Network, Warner Bros. Motion Picture Group, Warner Bros. Television Group, and others.
The press release did not include specific financial metrics or changes in performance from the last period. Today the company's shares have moved -1.5% to a price of $7.97. For more information, read the company's full 8-K submission here.
