WarnerMedia CEO Jason Kilar is stepping down. The executive announced his resignation in a memo sent out on Tuesday.
In the email, Kilar wrote, "With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company." His exit had been widely expected since the May 2021 announcement that Discovery would merge with WarnerMedia.
That deal is expected to close as early as April 8, Variety reported, with the new entity — Warner Bros. Discovery — to be led by Discovery CEO David Zaslav.
Kilar first took on the position of CEO back in May 2020. He previously worked at Amazon and served as the CEO of Hulu. During his tenure at WarnerMedia, Kilar oversaw the restructuring of the business, which had been acquired by AT&T in 2018. Previously, he attracted controversy for saying that COVID-19 was "really good for ratings," according to the Daily Beast.
Months after joining WarnerMedia, Kilar axed some top creative executives, parting ways with Bob Greenblatt and Kevin Reilly. His tenure was marked by a zeal to serve the consumer interest and boost subscriber numbers at WarnerMedia's streamer HBO Max — the service ended 2021 with 73.8 million subscriptions, up 13.1 million from the end of 2020.
He was widely criticized for the way he executed a move to shift big cinematic releases straight to HBO Max in 2020, when theatrical attendance was severely depressed by pandemic shutdowns. Belated communication of the strategy led WarnerMedia to have to spend more than $200 million, the Wall Street Journal reported, making up to A-List talent in Hollywood.
"We'd make the same decision again," Kilar told Insider in January.
Kilar came under fire once again earlier this year over a decision to part ways with CNN president and WarnerMedia sports chairman Jeff Zucker after the revelations that he failed to disclose a romantic relationship with CNN CMO Alison Gollust, a violation of company standards. Gollust left soon after Zucker amid reports of a series of alleged management missteps involving coverage of New York Governor Andrew Cuomo.
Kilar was repeatedly grilled on the decision by scores of top CNN talent who owed their careers to the departed Zucker. The move created ill will among some influential executives at CNN, which will be led by Zaslav hire Chris Licht starting in May.
Kilar appeared on CNBC Tuesday morning to discuss the launch of CNN+, the news outlet's new streaming service, saying that numbers were ahead of expectations. Of his departure, he said, "I'm not going to a beach to go and reflect or retire and I'm very excited about what comes next but but right now I'm focused obviously on WarnerMedia."
Kilar's 2020 compensation package was more than $52 million, including $49.2 million in stock that was to vest over a four-year period.
As a parting gift from Kilar and his wife, Jamie, staff are invited in the memo to chose one of 23 photographs, shot by Kilar at various locations around the world while he was CEO of the company. "It's being met with widespread derision," said one CNN staffer.
Staff are waiting to hear who will be kept on and who will be axed as the new Discovery management team prepares to take charge of the company next week. Kilar's last day will be Friday, according to a Wall Street Journal report.
Read the full memo here:
With the pending transaction with Discovery nearing close, now is the right time to share with each of you that I will be departing this amazing company.
There are many feelings one could have in a moment like this, but for me there are none bigger, or more lasting, than the feelings of gratitude and love that I have for this team, this company, and this mission. I've never been more fulfilled professionally. I've never been happier professionally. This team — and what we've built together — are the reasons for that. We're leading the industry creatively. We've elevated technology, product, and design to the highest levels in the company. We're operating as one team, proudly and successfully going direct to consumers across the globe. It has been deeply gratifying to lean into the future alongside each of you and to do so with conviction.
The joys are many, especially the walk-and-talks that I've had with a great many WarnerMedia team members, diving deeply into the matters at hand, whether on the storied lot in Burbank, along The High Line at Hudson Yards, in and around Techwood and CNN Center, inside our archives, across the expansive lot at Leavesden, at any of our game studio locations, or the many other locations where this team quite literally changes the world. Apparently, word has gotten around that when Jason calls for a walk-and-talk, be sure to wear comfortable walking shoes!
For those of you that know me well (or follow me on Twitter), it comes as no surprise that I adore our history and the footprint we have as a company across the globe. I've done my best to visit and get to know as many of you as possible and to photographically document my love for this team and this company along the way via social media. So, when my wife Jamie and I were thinking about what we could do on our own to adequately express our appreciation to each of you, we came up with the idea to create a series of artifacts featuring some of the photos I've taken to celebrate this team and WarnerMedia. We're inviting each of you to visit this website and choose an image that resonates… from the iconic Warner Bros. water tower, the gleaming towers of Hudson Yards, the virtual production stage in Leavesden, and several more. An artifact featuring that image (and a note from me on the back) will be shipped to you in the coming weeks. Our hope is that this memento will bring a smile and remind you of the important contributions we've made to the 99-year legacy of this extraordinary company.
Leading this team has been the honor of my lifetime. My heart is so full, and I am beyond thankful to each of you. There is no better team on the planet, and I will savor every last step as I wander the lot in Burbank several more times this week, with this team on my mind, always.
Jason
