Silver Spring, Maryland – Discovery Communications has announced the extension of President and CEO David Zaslav’s employment contract through the end of the decade. Zaslav has committed to hold the majority of his equity from stock grants to term, furthering the alignment of shareholder and management interests.
“David has done a superb job. He built a strong management team that has expanded the company’s reach and relevance, increased its market share domestically and around the world, and created a bigger, stronger portfolio of brands. We look forward to working with David to do more of the same over the next six years,” said Discovery Director John Malone, Chairman of Liberty Media Corporation and Liberty Global, Inc.
Since joining Discovery as CEO in January 2007, Zaslav and his management team have overseen a broad global expansion at the company by doubling the total number of Discovery networks around the world from 100 to nearly 200, growing global cumulative subscribers over 50% to 2.2 billion, and completing the company’s largest acquisition of SBS Nordics in 2013. Discovery’s channels are now distributed in more than 220 countries making it the number one international pay-TV programmer in the world.
“David has done a terrific job over the past seven years.This long-term commitment is equity-based, and continues to align David’s performance with the company’s growth and the ongoing creation of shareholder value. We are excited that David and his first-rate management team will continue driving growth across Discovery’s global assets for the remainder of the decade,” said Discovery Director Robert Miron.