Ynon Kreiz, Newly Minted Co-CEO Of Paramount, To Get Pay Bump After WBD Merger Close, $31.5M Signing Bonus
Ynon Kreiz will serve as co-CEO of the merged Paramount and Warner Bros. Discovery under a five-year contract. He receives a $31.5 million signing bonus via a fully vested RSU award and a $5 million base salary, totaling over $46.5 million in first-year compensation. Kreiz will manage day-to-day operations while David Ellison remains Chairman and principal executive officer. His annual pay is projected to reach at least $35 million by 2027. The appointment follows a multi-billion dollar secured debt raise and occurs days before the acquisition closes.
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- ✓ Ynon Kreiz is the co-CEO of the merged Paramount and Warner Bros. Discovery.
- ✓ Kreiz signed a five-year contract for the role.
- ✓ Kreiz receives a $31.5 million signing bonus in the form of a fully vested RSU award.
- ✓ David Ellison is the Chairman and principal executive officer of the company.
What changed
Paramount disclosed the specific financial terms of Ynon Kreiz's five-year co-CEO employment contract.
Live updates
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Ynon Kreiz Named Co-CEO of Merged Paramount-Warner Bros. Discovery
Ynon Kreiz will serve as co-CEO of the merged Paramount and Warner Bros. Discovery under a five-year contract. He receives a $31.5 million signing bonus via a fully vested RSU award and a $5 million base salary, totaling over $46.5 million in first-year compensation. Kreiz will manage day-to-day operations while David Ellison remains Chairman and principal executive officer. His annual pay is projected to reach at least $35 million by 2027. The appointment follows a multi-billion dollar secured debt raise and occurs days before the acquisition closes.
Why it matters
David Ellison appointed Kreiz to bring cost-cutting expertise to the combined entity. This leadership restructuring happens as Paramount Skydance finalizes its acquisition of Warner Bros. Discovery.
What is confirmed
- Ynon Kreiz is the co-CEO of the merged Paramount and Warner Bros. Discovery.
- Kreiz signed a five-year contract for the role.
- Kreiz receives a $31.5 million signing bonus in the form of a fully vested RSU award.
- David Ellison is the Chairman and principal executive officer of the company.
- Kreiz will handle day-to-day operations.
Still unconfirmed
- Kreiz will collect at least $35 million a year by 2027.
- Kreiz receives a $5 million base salary.
- Annual compensation for Kreiz is valued at around $30 million.
What to watch next
- The formal closing of the Warner Bros. Discovery acquisition
- Implementation of Kreiz's cost-cutting measures
- Official SEC filings confirming final compensation totals
confidence 90%Sources used for this update (11)
- Yahoo Finance — Paramount poaches Mattel CEO to be co-CEO of new company merged with Warner Bros. Discovery
- nytimes.com — Mattel Chief Named Co-C.E.O. of Combined Paramount and Warner Bros.
- deadline.com — Ynon Kreiz, Newly Minted Co-CEO Of Paramount, To Get Pay Bump After WBD Merger Close
- Reuters — David Ellison's appointment of Kreiz brings cost-cutter to Paramount-Warner Bros Discovery
- The Hollywood Reporter — Ynon Kreiz Gets $31.5 Million Signing Bonus In Five-Year Paramount-Warner Bros. Deal
- deadline.com — Ynon Kreiz, Newly Minted Co-CEO Of Paramount, To Get Pay Bump After WBD Merger Close, $31.5M Signing Bonus
- finance.yahoo.com — Paramount Skydance (PSKY) Names Ynon Kreiz Co Chief Executive Officer, Is It Fully Valued?
- www.hollywoodreporter.com — Ynon Kreiz Paramount-Warner Bros. Pay Revealed
- variety.com — Ynon Kreiz, Co-CEO of Paramount, Salary and Pay ... - Variety
- www.thewrap.com — Ynon Kreiz’s Paramount Co-CEO Pay Package Tops $46.5 Million
- www.zetik.com — Ynon Kreiz to Receive Over $46.5 Million at Paramount-WBD as ...
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