Discovery Communications Extends Contract for CEO David Zaslav
-- New Deal Extends Into 2015 --
(Silver Spring, Md.) Discovery Communications announced today the extension of President and CEO David Zaslav's employment contract through the beginning of 2015. Details of the extension were filed today with the US Securities and Exchange Commission in a form 8K.
"The Board approached David -- with more than two years before his contract was up -- in order to secure his leadership, and provide the company with stability and continuity for years to come", said John Hendricks, Discovery Communications founder and chairman. "By any measure or metric, Discovery Communications has had a terrific performance, and securing David's leadership gives me great confidence, the best is yet to come."
"David has created a tremendous amount of shareholder value by building Discovery's brands and increasing market share around the world, and in the process, nearly doubled the company's operating cash flow. He is an outstanding media executive and extending his contract is a big win for Discovery Communications," said Liberty Media Corporation Chairman and Discovery Director John Malone.
"David has taken Discovery to a whole new level. He has energized the culture, brought crisp decision making and raised the performance and visibility of our global portfolio. We are lucky to have him at Discovery for another five years," said Chairman of Advance Newhouse Communications and Discovery Director Robert Miron.
"Discovery is a fantastic media company with an unmatched global footprint, strong brands and compelling content. I look forward to working with the Board, and a great leadership team, to grow our market share around the world on all platforms, and to drive long-term sustainable growth for years to come," said David Zaslav.