The rule was implemented in 2013, and the nonbinding results mean investors can’t block a board’s compensation decision. As of 2017, large public companies are also required to disclose the ratio of CEO pay to that of the median compensation rate for all employees.“It shows shareholders have more power than they used to on this issue, and they’re using it,” Landis-Weaver says.Research by Bloomberg, the AFL-CIO and others has calculated a more than 1,000% increase since 1950 in the CEO/average worker pay ratio.
David Zaslav has a net worth of $200 million. That is a major concern for investors.”While Zaslav may be the highest-paid CEO of any company in America, by contrast, the most well-compensated among leaders of Detroit’s Big Three automakers, Mary Barra, earned $21.9 million for heading General Motors in 2018. The now-deposed leaders of Redstone’s empire, Viacom CEO Philippe Dauman and CBS CEO Leslie Moonves, consistently received sky-high pay packages during their respective tenures. “You’re seeing more investors trying to make sure that boards of directors have options to claw back certain kinds of compensation if a CEO’s major gambits or strategies have not paid off.”Experts say the cottage industry of corporate compensation consultants and board members who may be too friendly with the CEO are often to blame for pay inflation at companies that are laying off workers or freezing wages down the chain. "The Maze Runner" actress Kaya Scodelario shared a screenshot on Instagram of her Zoom call with her co-stars from the YA adventure trilogy, including Dylan O’Brien, Will Poulter, Ki Hong Lee, Dexter Draden and Thomas Brodie-Sangster.
The big gains over that time have largely been driven by the steady growth of the equities market since the 1980s, as stock compensation has become a more common component of CEO paychecks.Many also point to the laser focus of investors on companies’ quarterly returns as a reason for the exponential increase in CEO compensation.
A 79% drop saw Zaslav’s salary go from $156.1 million in 2014 to $33.3 million in 2016. That incentive is magnified by the fact that lofty share prices only add to the value of stock options granted in employment contracts.Jason Schloetzer, associate professor at Georgetown University’s McDonough School of Business, says that the common factor cited as the driver of increased CEO pay “is the near-ubiquitous emphasis placed on shareholder returns as the only important goal of the executive team.”Experts say there’s no escaping that the widening income gap creates a politically charged scenario for the economy’s haves and have-nots.“When CEO salaries grow at double-digit rates annually while rank-and-file workers see pay increases that are less than inflation, the disconnect can only persist for so long until either employees or regulatory agencies will take action,” Schloetzer says.At Discovery, Zaslav’s compensation was 1,511 times the average median compensation for employees, which stood at $85,704 last year, per Discovery. Many of the stars are doing conversations for charity, while others are staging full remote episodes or special performances just to perk up a fan's day. Experts who study the impact of the pay gap in countries around the world say nations with freely elected governments are typically less stable the wider the gulf between the top echelon and the bottom half of wage earners. The cast of "High School Musical" didn't stream their Zoom reunion call, which from The cast of "Full House," including John Stamos, Bob Saget, Dave Coulier, Candace Cameron Bure, Jodie Sweetin, Andrea Barber and creator Jeff Franklin, all imagined a The stars of the Nickelodeon TV series "Victorious," featuring Victoria Justice and Ariana Grande, were already meant to gather around this time for the 10th anniversary of the series, but instead did so virtually. That’s less than any chief executive at a traditional media conglomerate other than Viacom’s Bob Bakish (who took in $20 million in 2018) and Lionsgate’s Jon Feltheimer ($14.4 million).Media and entertainment executives have enjoyed high salaries in part because of the parochial nature of the barons that have long ruled the industry. He is, however, a well-respected CEO who has transformed the cable content group. Zaslav’s 2018 pay was inflated by a massive option grant of more than $102 million (compared to his option awards of just under $7 million last year), which was tied to his new contract to stay on as CEO through 2023.His base salary was unchanged at $3 million and and stock awards were down a hair to $13.5 million in 2019. “I saw no evidence the company was taking the necessary steps for long-term health.”By objective measures, Discovery under Zaslav is a world apart from Dauman’s last years at Viacom. Josie Bissett, Thomas Calabro, Marcia Cross, Laura Leighton, Heather Locklear, Doug Savant, Grant Show, Andrew Shue, Courtney Thorne-Smith and Daphne Zuniga all took part to reminisce about the soapy Fox drama.While not strictly a reunion, the cast of Steven Soderbergh's pandemic outbreak drama "Contagion" banded together to help The members of the fictional band The Wonders (or The Oneders) from Tom Hanks' film "That Thing You Do!" The highest CEO in the United States, his salary in 2015 was $156,000,000. Discovery’s share price has to climb steadily for the next four years, or as the company described it, achieve “substantial and sustained stock price growth.”“We’re more than just our 12 cable channels coming together with [Scripps’] six channels,” Zaslav told Variety in November about the Scripps merger. “We are a global IP company that is about unscripted and sports. “It’s not the options and grants in and of themselves that are going to make someone a good CEO or a bad CEO.” “We’ve seen increased opposition to pay packages.”Landis-Weaver cites the shareholder-friendly reforms of the past decade, in the wake of Wall Street’s mortgage meltdown of 2007 and 2008, that require companies to hold nonbinding shareholder advisory votes on CEO compensation — the Say on Pay rule. David Zaslav has taken a massive salary cut, and yet remains within the top 10 highest paid CEOs in the world 2019. Net income for the year rose to $2.069 billion. The subject of CEO remuneration is becoming a target for increasing activism among investor advocates and social-justice activists. The casts and teams behind over a dozen beloved shows or films have reunited remotely in recent weeks just to pass the time.
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