By (Reuters) – Warner Bros Discovery (NASDAQ:WBD) has appointed Anthony Noto, CEO of fintech giant SoFi (NASDAQ:SOFI), and Joey Levin, the outgoing chief executive of IAC, to its board, the company said on Tuesday.
The media giant is undergoing a restructuring to separate its declining cable TV businesses, such as CNN, from streaming and studio operations, setting the stage for a potential sale or spinoff of its TV business, as more cable subscribers cut the cord.
Noto joined the board on Jan. 8 and Levin is slated to join on Feb. 1. Both will be up for election at the company’s 2025 annual stockholder meeting.
Levin will step down as CEO of the media and internet company IAC, after the spinoff of its majority stake in home services unit Angi, IAC said on Monday. He will transition to the role of executive chairman of Angi.
Levin previously served in senior roles across IAC’s mergers and acquisitions group, operations and business management teams over the past two decades. His leadership has steered IAC through its initial IPO and subsequent spinoffs of Match Group (NASDAQ:MTCH) and Vimeo (NASDAQ:VMEO).
Noto, who was appointed the CEO of SoFi in 2018, also brings four years of executive experience with Twitter, now called X, where he initially served as finance chief before taking on the role of chief operating officer.
“Both Anthony and Joey are accomplished leaders with considerable experience in relevant industries and exceptional track records of driving growth, innovation and shareholder value,” said David Zaslav, CEO of Warner Bros Discovery.
Last month, Warner Bros Discovery said Li Haslett Chen, a member of its board and the company’s nominating and corporate governance committee, will resign from her positions.
Following their appointments, the board will have 13 directors, 12 of whom are independent.
