AT&T appoints its seven members to Warner Bros. Discovery board
AT&T (NYSE:T) has chosen its seven members (including a chairman) to sit on the board of the upcoming Warner Bros. Discovery, the result of the spin-off of WarnerMedia and its combination with Discovery (NASDAQ:DISCA) set for next month.
The new board will consist of 13 members, and Discovery (DISCA) will choose the other six.
The seven choices include three directors who currently sit on AT&T's board, and who will resign their AT&T directorships at the close of the transaction. Those members are Samuel Di Piazza Jr., who will be chairman of Warner Bros. Discovery; Debra Lee, former chair and CEO of BET Networks; and Geoffrey Yang, founding partner and managing director of Redpoint Ventures.
Joining them among AT&T's seven choices are: Li Haslett Chen (founder/CEO of Narrativ); Richard Fisher (former president of the Federal Reserve Bank of Dallas); Fazal Merchant (senior adviser to Sixth Street Partners); and Paul Price (most recently chief financial officer of Macy's).
"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," says AT&T CEO John Stankey.
With Di Piazza, Lee, and Yang leaving the AT&T (T) board, AT&T expects to cut its board to 10 members from the current 13 to reflect a more focused business model.