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Internet

Netflix doubles CEO's notional pay for 2013

Wednesday 2 January 2013 | 10:46 CET | News
Netflix has doubled CEO Reed Hastings's notional pay for 2013 to USD 4 million, reports the Financial Times, citing a regulatory filing. This includes USD 2 million in base salary and options notionally valued at USD 2 million. The move reverses the board's decision last year to reduce his notional pay from USD 3.5 million to USD 2 million after his attempt to separate Netflix's streaming video business from its DVD subscription operations led to a user backlash and steep fall in share price that allowed corporate raider Carl Icahn to buy a stake. Hasting's actual pay will largely be determined by the value of the options allowance when he receives it. In 2011, his actual pay was USD 9.3 million, 69 percent more than in 2010. The figure for 2012 will be known when Netflix publishes its annual proxy statement in February.

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Categories: Internet
Companies: Netflix
Countries: United States
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