Summary
This 8-K filing from Warner Bros. Discovery, Inc. (then Discovery Inc.) on October 19, 2018, announces a significant change in its Chief Accounting Officer role. Manuel Alvarez, who was slated to take over the position on January 1, 2019, has rescinded his intention to assume the role due to personal reasons. While Mr. Alvarez will remain an employee of the company, this development introduces uncertainty regarding accounting leadership as the planned transition will not occur as originally communicated.
Key Highlights
- 1Manuel Alvarez will not assume the role of Chief Accounting Officer on January 1, 2019, as previously announced.
- 2Mr. Alvarez is stepping down from the incoming Chief Accounting Officer position for personal reasons.
- 3Mr. Alvarez is expected to remain an employee of Discovery Inc.
- 4Kurt Wehner, the current Chief Accounting Officer, will extend his tenure at least through March 1, 2019.
- 5Mr. Wehner's service as Chief Accounting Officer will continue until June 30, 2019, or until a successor is appointed, whichever comes first.
- 6The company will need to identify and appoint a new Chief Accounting Officer.