Discovery CEO’s $247 Million Pay Is Panned by Proxy Advisers (1)

Discovery Inc.’s chief executive officer is facing criticism over his $247 million pay package from three proxy advisers recommending their clients vote against the company’s stock incentive plan.

Institutional Shareholder Services Inc. said that Discovery has “a long history of poor pay practices” and called David Zaslav’s pay “disproportionate to company performance,” citing negative shareholder returns over the last five years. Glass Lewis & Co. and Egan-Jones Proxy Services also recommended clients reject the plan. All three suggested investors withhold votes for board members.

David Zaslav

Photographer: David Paul Morris/Bloomberg

A spokesman for Discovery declined to comment.

Zaslav, who is about to close ...