AT&T Appoints Members to Warner Bros. Discovery Board
AT&T Appoints Members to Warner Bros. Discovery Board of Directors
AT&T* has named its seven appointees to the Warner Bros. Discovery, Inc. Board of Directors as it prepares to spin off WarnerMedia and combine it with Discovery, Inc.
As announced in May 2021, the Warner Bros. Discovery Board will consist of 13 members, with six chosen by Discovery and seven chosen by AT&T, including the Chairman of the Board.
AT&T Chief Executive Officer John Stankey said: “We are delighted to have assembled a diverse slate of world-class directors for the Warner Bros. Discovery Board. These respected leaders bring a wealth of experience in finance, technology, media and entertainment, international trade, venture capital, and digital and direct-to-consumer platforms that is vitally important to the future of Warner Bros. Discovery. They are committed to the company’s success while providing best-in-class corporate governance.”
The seven directors appointed by AT&T are:
- Samuel A. Di Piazza, Jr.
Di Piazza will serve as Chairman of the Warner Bros. Discovery Board of Directors. He previously served as global CEO of PricewaterhouseCoopers International Limited from 2002 until his retirement in 2009, wrapping a 36-year career with PwC. After his retirement from PwC, he joined Citigroup where he served as vice chairman from 2011 to 2014. A financial expert, he will bring significant executive and business leadership experience to the Warner Bros. Discovery Board through his leadership of a multicultural, complex professional services organization serving clients around the world.
- Li Haslett Chen
Chen is the founder and CEO of Narrativ, a technology platform that enables content creators across YouTube, Twitch, TikTok, Instagram and more to sell products, manage transactions and tap into new growth opportunities. Prior to that, she was director of marketing and business development for Moda Operandi and a management consultant at McKinsey & Co. She will bring comprehensive skills and experience in digital interactions, technology, product development and direct-to-consumer platforms to the Warner Bros. Discovery Board.
- Richard W. Fisher
Fisher has been a senior advisor to Barclays PLC since 2015 and, prior to that, served as president and CEO of the Federal Reserve Bank of Dallas. From 1997 to 2001, he served as Deputy U.S. Trade Representative with the rank of Ambassador. His expertise in finance, capital markets, international trade and regulatory frameworks will bring strategy, leadership and risk oversight experience to the Warner Bros. Discovery Board.
- Debra L. Lee
Lee has extensive leadership experience in the media and entertainment industry, previously serving as chair and CEO of BET Networks from 2006 until her retirement in 2018 after a 32-year career there. She is also the founder and chair of Leading Women Defined Foundation, a nonprofit education and advocacy organization dedicated to empowering African American women. She will bring strong operational and transformational skills to the Warner Bros. Discovery Board through her background in cultivating world-class talent, developing innovative strategic plans and executing complex initiatives within the media sector. She will also bring significant experience as a public company director to the deliberations of the Warner Bros. Discovery Board.
- Fazal Merchant
Merchant is currently a senior advisor to Sixth Street Partners and serves on the board of directors at Ariel Investments, Meritor, Inc. and Ryman Hospitality Properties, Inc. He was previously a board member and Co-CEO of Tanium Inc., a subscription-based global cybersecurity and IT management company. Prior to that, he was CFO of DreamWorks Animation SKG (2014-2016) and served in several executive roles at DIRECTV, including CFO of Latin America (2012-2014). He will bring important operating and financial skills to the Warner Bros. Discovery Board, as well as relevant media and technology industry experience.
- Paula A. Price
Price was most recently the executive vice president and CFO of Macy’s, Inc. from July 2018 to May 2020. Prior to that, she was a full-time senior lecturer at Harvard Business School. She has also held senior leadership positions at grocery retailer Ahold (as CFO of the U.S. business), CVS Caremark (as controller and chief accounting officer) and JPMorgan Chase & Co. (as CFO of the Institutional Trust Services division). She is a financial expert, whose broad experience across finance, general management and strategy will provide a unique perspective for the Warner Bros. Discovery Board, stemming from her time as a CFO, a Harvard Business School faculty member and as a director of other public company boards.
- Geoffrey Y. Yang
Yang is a founding partner and managing director of Redpoint Ventures, a global private equity and venture capital firm. He also founded Performance Health Sciences, where he has served as CEO and board member since April 2018. He will bring extensive insights in technology, addressable advertising and digital media to the Warner Bros. Discovery Board through his 35+ years in the venture capital industry and his experience with founding or serving on the boards of multiple media, internet and infrastructure companies.
Di Piazza, Lee and Yang currently serve on the AT&T Board of Directors and will resign those positions at the close of the Discovery transaction. Following their departure, AT&T expects to reduce the number of board directors from 13 to 10, reflecting the company’s more focused business model.
AT&T and Discovery expect the transaction to close early in the second quarter of 2022.