Netflix said it’s working on modifications to CEO pay policies after a majority of shareholder voting not to approve executive compensation in a non-binding vote at the last annual meeting.
The company had said as much earlier this year. “We recognize we don’t have wide support for our executive compensation model of the last 20 years.
We are listening to our shareholders and plan on substantial changes for 2024 to a more conventional model. Our executive compensation plan will continue to be built on pay for performance,” the company noted in its annual shareholder letter.
Netflix has consistently tangled with shareholders over CEO pay. For 2022, Netflix co-CEOs last year — then Reed Hastings and Ted Sarandos, topped the list of chief executive pay, with about $50 million each, up 25% and 32%, respectively.
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