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“ Netflix shareholders voted on Thursday to reject the lucrative pay packages of the company’s leaders, including the co-chief executives Ted Sarandos and Greg
by dpflan 3y ago
“ Netflix shareholders voted on Thursday to reject the lucrative pay packages of the company’s leaders, including the co-chief executives Ted Sarandos and Greg Peters. The vote is nonbinding and can be overruled by the company’s board of directors the next time it meets.”
A move to appease the public and writers, but room to backtrack if desired?
- HWR_14 3y agoMost votes are non-binding in these matters across most corporations. Heck, most corporate votes are non-binding except for ones like board membership, mergers and (in some cases) issuing new shares. In theory, it should scare the board away from this compensation level (and provide justification the board can use to offer a lower compensation). If they fail to do so, it might be used by an outside group to try to take over the board. After all, it's like most elections. The counterbalance is you vote on the board and can get them out.