Netflix CEO to Get Beefy Pay Raise in 2013

He took a pay cut last year after a series of missteps

   

Netflix CEO to Get Beefy Pay Raise in 2013

netflix 630 flickr 300x225 Netflix CEO to Get Beefy Pay Raise in 2013Netflix (NASDAQ:NFLX) CEO Reed Hastings will likely be paying a lot more taxes in 2013.

The head of the DVD-rental and streaming-video company will see his salary jump from $500,000 last year, to $2 million this year. He’ll also receive $2 million in stock options, up from $1.5 million this year, the Associated Press noted.

christmas tree money 630 200x200 Netflix CEO to Get Beefy Pay Raise in 2013
Don’t Feel Sorry for Apple CEO’s ‘Pay Cut’

Hastings accepted a 43% pay cut last year in the wake of investor fury over the fallout from subscription hikes and a rescinded decision to split the company. Those moves aggravated subscribers, some of whom canceled their service, and caused company shares to tumble more than 70%.

In 2011, Hastings received $3.5 million in total compensation.

While the company expects to add subscribers this year, its shares have not fully recovered from the missteps and remain below $100 a share, a far cry from the nearly $300 a share they traded at in 2011.

Netflix shares rallied in November after activist investor Carl Icahn acquired a 10% stake in the company.

Shares of Netflix rose fractionally in Wednesday morning trading.


Article printed from InvestorPlace Media, http://investorplace.com/2013/01/netflix-ceo-to-get-beefy-pay-raise-in-2013/.

©2014 InvestorPlace Media, LLC

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