Warner Bros. Discovery Adds Anthony Noto, Joey Levin to Board of Directors

Warner Bros. Discovery has appointed SoFi Technologies CEO Anthony Noto and outgoing IAC CEO Joey Levin to its board of directors.

Noto, who joined the media giant’s board on Jan. 8, and Levin, who will join the board on Feb. 1, will stand election at the company’s 2025 annual shareholder meeting. Noto and Levin will each receive cash retainers of $105,000 and stock grants of $240,000 in 2025 for serving on the board, in accordance with WBD’s compensation program for all non-employee directors.

The decision follows a “comprehensive search process” led by the WBD board’s nominating and corporate governance committee that was “aided by a leading independent search firm.” WBD’s board will be composed of a total of 13 directors, 12 of whom are independent.

Noto brings over two decades of senior leadership experience, extensive media, technology, and internet expertise and transaction experience. He most recently served as CEO of SoFi Technologies, a one-stop shop for digital financial services. Prior to SoFi, he served as Twitter’s chief financial and chief operating officers, co-head of investment banking for Goldman Sachs’ global Telecommunications, Media and Technology division and the NFL’s chief financial officer.

Levin brings over 20 years of mergers and acquisitions, strategy, and senior leadership experience, with a deep background in digital media and commerce. He’s served as CEO of IAC since 2015 and previously held escalating roles of seniority in the company’s M&A group, operations and business management teams. Over his two-decade tenure, he has overseen IAC’s evolution through organic growth and acquisitions and a number of spin-offs, including its initial public offering, subsequent spin-off of Match Group and the private financing and subsequent spin-off of Vimeo.

Levin will leave his role as IAC CEO in connection with the company’s spin-off of home services platform Angi in the first half of 2025. He will become an advisor to IAC upon completion of the spin-off and will serve as executive chairman of Angi, in partnership with its CEO Jeff Kip.

“We are pleased to welcome two seasoned executives who will bring valuable insights and expertise to the Board,” WBD CEO David Zaslav said in a statement. “Both Anthony and Joey are accomplished leaders with considerable experience in relevant industries and exceptional track records of driving growth, innovation and shareholder value. I look forward to working closely with them as we continue to deliver on key strategic and operational objectives to realize the full potential of Warner Bros. Discovery.”

The addition of Noto and Levin comes after attorney and John Malone’s nephew Daniel E. Sanchez to the board in September. Other current WBD members include Malone, Samuel Di Piazza Jr., Richard Fisher, Paul Gould, Debra Lee, Kenneth Lowe, Fazal Merchant, Paula Price and Geoffrey Yang.

It also follows the resignations of Steven Miron and Steven Newhouse in April due to an antitrust probe from the Department of Justice that was looking at whether their board memberships violates antitrust laws. Howl CEO and founder Li Haslett Chen also departed WBD’s board in January. Her resignation was not the result of any disagreement with the company on any matter relating to the company’s operation, policies or practices, according to an SEC filing.

Shares of Warner Bros. Discovery, which closed at $9.73 per share on Friday, are down 8.9% year to date and 6% in the past year.

The post Warner Bros. Discovery Adds Anthony Noto, Joey Levin to Board of Directors appeared first on TheWrap.