Paramount Skydance Corporation announced the appointment of Ynon Kreiz, former Chairman and CEO of Mattel, as its Co-Chief Executive Officer, effective October 5, 2026. The appointment comes as the company also announced an anticipated closing date of October 6, 2026, for its merger with Warner Bros. Discovery, Inc. (WBD).
Key Details
- Executive Appointment: Ynon Kreiz will serve as Co-CEO alongside David Ellison and will also join the Board of Directors, effective October 5, 2026.
- Merger Closing: The acquisition of Warner Bros. Discovery (WBD) is expected to close on October 6, 2026, subject to customary closing conditions.
- Merger Consideration: At the anticipated closing, each share of WBD common stock will be converted into the right to receive approximately $31.017 in cash.
- Compensation Package: Mr. Kreiz's five-year employment agreement includes an initial annual base salary of $3.5 million and significant equity awards, including a signing grant of 2,625,000 RSUs. His compensation is set to increase upon the closing of the WBD merger.