Warner Bros. Discovery, Inc. (WBD) announced on Friday that billionaire investor John Malone (pictured) will not seek re-election to the company's board of directors and will transition to the role of chair emeritus at the company after his term expires at the 2025 Annual Meeting of Stockholders on June 5.
"As Chair Emeritus, Dr. Malone will continue to regularly attend Board meetings and provide strategic counsel and support to the Board and management team," Warner Bros Discovery said in a press release.
The media giant added it plans to nominate Anton Levy for election to the board by stockholders at its upcoming annual meeting.
