Netflix CEO Stock Options Take A Beating After Troubled Year
To round off what has been a pretty bad year, the CEO of Netflix saw his stock options reduced in value by 50%, effectively knocking $1.5 million off his salary.
Netflix CEO Reed Hastings
Reed Hastings has presided over a number of crisis within the streaming company, but although he is said to be taking a $1.5 million hit, his base salary of $500,000 will remain the same.
But it is his stock option award for 2012 that will equate to $1.5 million, a massive 50% cut from the $3 million he received in 2011 say the WSJ.
The online movie and TV show company had a rough year, disasters included a big subscription increase in July that had subscribers leaving in droves.
This was followed by an aborted DVD only rental arm called Qwikster being killed off.
Im sure the million less in salary will not be too much of a concern if the planned expansion to Europe takes off as expected and the company get a few content deals wrapped up. Hell, he may even get a pay rise by the next appraisal.
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[...] They created the Qwikster DVD only rental service, which was met with a chorus of disapproval from customers and ended up losing around a million customers and saw their stock price plummet. [...]