Warner Bros. Discovery Inc. has announced new employment arrangements for its key executives, Bruce Campbell, Chief Revenue and Strategy Officer, and JB Perrette, President and CEO of Global Streaming and Games, in line with the company's plan to separate into two publicly traded entities: Warner Bros. and Discovery Global. Under the new terms, if Campbell or Perrette's agreements are not renewed, they will receive accrued benefits and specific nonrenewal payments, provided no comparable offer is made by Warner Bros. Additionally, if terminated without cause or for good reason, both executives will be entitled to severance benefits, including base salary continuation and prorated bonuses. These arrangements are designed to ensure compliance with restrictive covenants and provide equity vesting options under specific conditions, such as a change in control.
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