Ynon Kreiz Steps Into High-Staking Role as David Ellison’s Right-Hand Man With Lucrative Pay Package at Merged Paramount-Warner Bros. Discovery

Ynon Kreiz is stepping into one of the most powerful and lucrative roles in the entertainment industry as David Ellison’s right-hand man at the newly merged Paramount-Warner Bros. Discovery. In taking on this monumental position, Kreiz is securing a massive pay bump compared to his previous compensation package as the chief executive officer of toymaking giant Mattel.

According to an SEC filing released by the company, Kreiz, 61, has signed an initial five-year employment contract with Paramount. He is scheduled to officially start his tenure on October 5, just one day before Paramount is set to close its massive, industry-reshaping $111 billion merger with Warner Bros.

Kreiz’s financial package for his first year at the helm of the combined Paramount-WB media conglomerate—whose official corporate name has not yet been publicly revealed—will total more than $46.5 million. This eye-popping figure is heavily bolstered by a one-time signing award consisting of restricted stock units valued at $31.5 million.

By stark comparison, during his tenure as the CEO of Mattel, Kreiz received a total compensation package of $15.1 million in 2025, a sum that included a base salary of $1.6 million. The leap to the newly minted media titan represents a staggering financial elevation for the veteran executive, reflecting the high stakes, immense responsibilities, and sheer scale of managing the combined assets of two Hollywood legacy studios under the leadership of David Ellison.

Under the terms of his new five-year contract at Paramount-WBD, Kreiz will receive an annual base salary of $5 million, which takes effect upon the official closing of the merger. In addition to this guaranteed baseline, he is fully eligible for an annual performance bonus that is targeted at $4.9 million, giving him substantial upside tied to the financial and operational success of the newly combined entertainment giant.

Beyond his base salary and targeted bonus, the compensation structure heavily emphasizes equity and long-term alignment with the company’s performance. Alongside the initial $31.5 million signing award of restricted stock units, Kreiz will receive 1.25 million shares of the company’s Class B Common Stock, a component referred to in the regulatory documents as the "pre-closing award." Furthermore, within 15 days following the completion of the Warner Bros. Discovery closing, Kreiz will be granted additional restricted stock units with an aggregate grant-date value of up to $5.1 million. This secondary grant will be pro-rated based on the specific portion of the first year of his employment that remains following the official closing of the merger.

Looking ahead to the continuation of his contract, the SEC filing reveals that on the first anniversary of his employment, Kreiz will be granted an annual equity award valued at $20.1 million.

Financial analysts and corporate governance observers examining the filing have noted specific stipulations regarding how these valuable equity awards will mature over time. It is worth noting that Kreiz’s stock awards—with the specific exception of the initial signing award—will vest in equal quarterly installments over a standard three-year period. However, this vesting schedule is subject to the crucial condition of his continued employment with the company through each applicable vesting date, ensuring that his long-term financial rewards remain directly tied to his ongoing leadership presence at Paramount-Warner Bros. Discovery as David Ellison implements his strategic vision for the massive media conglomerate.