Warner Bros. Discovery said it plans to add veteran tech investor Anton Levy as an independent director on its soon-to-expand board of directors.
The company’s existing board, which consists of 13 directors, on Monday approved an expansion to 14 timed to the annual shareholder meeting later this spring.
Levy is currently an Advisory Director at General Atlantic and previously served as General Atlantic’s Co-President and Chairman of Global Technology. He has led many of General Atlantic’s most notable investments in leading tech firms, among them Airbnb, Alibaba Group, Crowdstrike, Facebook, Klarna AB, Mercado Libre, Slack, Snapchat, Squarespace and Uber.
“We are pleased to welcome Anton to the Warner Bros. Discovery Board,” Chair Samuel A. Di Piazza, Jr. said in a press release. “His addition is consistent with the commitment we announced in December to continue to enhance the board with industry experts with track records of value creation. We look forward to working with Anton as we continue to oversee the execution of Warner Bros. Discovery’s strategy to unlock value for shareholders.”
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The planned addition of Levy to the board follows the arrival earlier this year of Anthony Noto and Joey Levin as independent directors.
“We are making meaningful progress to achieve our vision for Warner Bros. Discovery and harness the power of our unique, world-class assets to drive profitable growth,” CEO David Zaslav said. “We continue to move forward with urgency to improve performance and position our businesses for success over the near- and long-term amid the evolving industry landscape. We are confident that Anton will add valuable perspectives as we continue to take steps to drive long-term value for shareholders.”
WBD, formed in April 2022 from the merger of Discovery and WarnerMedia, has hit a few bumps with shareholders during its relatively brief existence. Last year, it agreed to pay a $125 million settlement after a judge agreed that the merger was “not entirely fair” to Discovery shareholders. Even without legal action, the combined company has struggled to win over Wall Street, with its shares trading at less than half of their value at the time of the deal.
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