Discovery has extended the employment contract of its president and CEO David Zaslav until the end of 2023.
Commenting on the development, Robert Miron, chairman of Discovery’s board of directors, said: “A dynamic, creative, and passionate leader, David is a builder and an innovator, laser focused on creating value. This multi-year commitment affirms our confidence in David’s leadership, and on behalf of the entire Board of Directors, we are excited for David and his strong management team to drive further success and growth in this next chapter of the new Discovery.”
John Malone, Discovery director and chairman, Liberty Media Corporation and Liberty Global, Inc., added: “David has done a masterful job leading and growing Discovery over the last decade. He is a visionary, a strategic builder and all around great guy. Under David’s leadership, Discovery has scaled new heights becoming the leader in sports across Europe, building the leading global IP portfolio of high quality content, and positioning Discovery for continued global growth. We are lucky to have him.”
The term of employment continues to make Zaslav a significant, long-term shareholder in Discovery. He has committed to hold the majority of his equity from stock grants to term, furthering the alignment of shareholder and management interests.
Zaslav said: “I am thrilled. Leading Discovery is my dream job. I would like to thank Discovery’s board of directors, fantastic management team, business partners, and all of our passionate super fans around the world for helping to make Discovery the unparalleled company it is today. Together, we are building something special. The new Discovery has the leading IP portfolio of beloved brands in the world, reaching viewers globally on every screen and service. Being at Discovery for the past 11 years has been the privilege of my career. I am confident our brand strength, global platform and marketplace differentiation will ensure that Discovery continues to grow and deliver value to our viewers, partners and shareholders for many years to come.”
Zaslav joined Discovery as president and chief executive in 2007, following a distinguished career at NBCUniversal.