Discovery Communications extends contract for president and CEO David Zaslav

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MUMBAI: Discovery Communications has extended its president and CEO David Zaslav's employment contract through the end of the decade.

"David has done a superb job. He built a strong management team that has expanded the company's reach and relevance, increased its market share domestically and around the world, and created a bigger, stronger portfolio of brands. We look forward to working with David to do more of the same over the next six years," said Discovery director, Liberty Media Corporation and Liberty Global chairman John Malone.

Zaslay joined Discovery as CEO in January 2007 and was incharge of overseeing a broad global expansion of the company. He was responsible for doubling the total number of Discovery networks around the world from 100 to nearly 200, growing global cumulative subscribers over 50 per cent to 2.2 billion and completing the company's largest acquisition of SBS Nordics in 2013. Discovery's channels are now distributed in more than 220 countries making it the number one international pay-TV programmer in the world.

"David has done a terrific job over the past seven years. This long-term commitment is equity-based, and continues to align David's performance with the company's growth and the ongoing creation of shareholder value. We are excited that David and his first-rate management team will continue driving growth across Discovery's global assets for the remainder of the decade," said Discovery director Robert Miron.

Term of employment is through 31 December 201, and makes Zaslav a significant long-term shareholder in Discovery Communications.

"I want to thank Discovery's visionary Board of Directors, best-in-class management team, our advertising and affiliate partners, and all of the passionate viewers around the world," said Zaslav. "It has been an amazing and successful seven years, and I am excited to have the opportunity to lead this great company for the rest of the decade. With the most creative and dynamic leadership team in the business, a talented and committed workforce, a strong financial position, and an unmatched global platform, I am extraordinarily confident of Discovery's growth prospects for the years ahead."

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