Paramount-WBD appoints Ynon Kreiz as Co-CEO with $46.5 million first-year pay

Ynon Kreiz, formerly chief executive of Mattel, will assume the role of Co-CEO at the combined Paramount-Warner Bros. Discovery entity starting Oct. 5, a day before the $111 billion merger finalizes. The SEC filing reveals his first-year compensation will surpass $46.5 million, comprising a $31.5 million signing award of restricted stock units, a $5 million annual base salary, and a $4.9 million performance-based bonus.

He will also receive 1.25 million shares of Class B common stock as a pre-closing award and, within two weeks after the merger, additional RSUs valued up to $5.1 million, prorated for the remaining year. On the anniversary of his employment, Kreiz is slated to obtain an equity award worth $20.1 million, with vesting spread quarterly over three years. By comparison, his 2025 total compensation at Mattel was $15.1 million, including a $1.6 million salary, underscoring the substantial rise in pay at the new media conglomerate.