Netflix doubles CEO Hastings' pay $4 million
Netflix doubles CEO Hastings' pay $4 million
Netflix is doubling CEO Reed Hastings' pay in 2013 to $4 million.
For 2012 Hastings took home a salary of $ 500,000, plus $ 1.5 million in stock options.
Hastings' stock options have been cut in half years after a disastrous year for Netflix in 2011. This included an unsuccessful attempt to separate set prices for people trying to rent DVDs by mail, compared with those who wanted to stream video over the Internet, along with a failed attempt rebranding. Netflix shares tumbled more than 40% in 2011.
This year, Netflix shares recovered, gaining 29%.
But the company has not been able to escape the bad news in 2012, either. Last week, millions of Netflix customers not stream videos as a result of an error that lasted almost half a day. The company said the problem was due to technical problems in servers operated by Amazon.com
Earlier this fall, Netflix warned of a disappointing outlook after releasing third-quarter earnings report. In the first three quarters of 2012, Netflix added 3.4 million new video streaming subscribers in the U.S., failure of the previously announced target of 7 million.
Netflix costs also increase because studies require a lot more money for streaming content they provide. At the same time, his subscriptions to the DVD business authority.
In October, Corporate raider Carl Icahn Netflix is a prime takeover target for technology giants like he bought a nearly 10% stake in the company.
Hastings even came in a little hot water, as the Securities and Exchange Commission gave him a Wells Notice to posting information about the company on its Facebook page.
For 2012 Hastings took home a salary of $ 500,000, plus $ 1.5 million in stock options.
Hastings' stock options have been cut in half years after a disastrous year for Netflix in 2011. This included an unsuccessful attempt to separate set prices for people trying to rent DVDs by mail, compared with those who wanted to stream video over the Internet, along with a failed attempt rebranding. Netflix shares tumbled more than 40% in 2011.
This year, Netflix shares recovered, gaining 29%.
But the company has not been able to escape the bad news in 2012, either. Last week, millions of Netflix customers not stream videos as a result of an error that lasted almost half a day. The company said the problem was due to technical problems in servers operated by Amazon.com
Earlier this fall, Netflix warned of a disappointing outlook after releasing third-quarter earnings report. In the first three quarters of 2012, Netflix added 3.4 million new video streaming subscribers in the U.S., failure of the previously announced target of 7 million.
Netflix costs also increase because studies require a lot more money for streaming content they provide. At the same time, his subscriptions to the DVD business authority.
In October, Corporate raider Carl Icahn Netflix is a prime takeover target for technology giants like he bought a nearly 10% stake in the company.
Hastings even came in a little hot water, as the Securities and Exchange Commission gave him a Wells Notice to posting information about the company on its Facebook page.
Posts
0 comments: