Warner Bros Discovery Says Veteran John Malone Will Not Stand For Re-Election To Board, Named Chair Emeritus

Warner Bros Discovery Inc. (WBD) shares fell over 3% on Friday after the company disclosed that John C. Malone will not stand for re-election to the board and will transition to the role of Chair Emeritus, effective upon the expiration of his term at the 2025 annual meeting of stockholders.

WBD highlighted that Malone will regularly attend Board meetings and provide strategic counsel and support to the Board and management team.

Meanwhile, WBD also said it intends to nominate Anton Levy for election by stockholders at the Annual Meeting.

CEO David Zaslav praised Malone’s contributions, saying that his exceptional insights and visionary perspective on the global media landscape and its future have been pivotal in shaping the trajectory and growth of Discovery and now at Warner Bros. Discovery.

“As Chair Emeritus, John's unparalleled counsel, deep expertise, and clarity of vision will continue to shape our leadership team and Board's decisions as we unlock the full potential of our business,” he said.

Malone said that WBD is on the right path. “I look forward to remaining actively involved, not only as a significant stockholder, but in this important role helping to shape the growth trajectory as the company evaluates important strategic and structural opportunities ahead,” he said.

With the addition of Levy and Malone’s decision not to stand for election, the Board will continue to comprise 13 directors, 12 of whom will be independent.

WBD shares have lost over 26% in 2025 and 8% in the past 12 months.

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