Netflix' Hastings to remain chairman after vote
Michelle Clancy | 12 June 2014
Reed Hastings, Netflix CEO and chairman, will get to keep both of his jobs for now. Netflix' shareholders have voted against a non-binding resolution to separate the company's chief executive and chairman functions.
Hastings co-founded Netflix in 1997, and has been chairman since the beginning. However, some investors and proxy-advisory firms have pushed diversity at the top to improve corporate governance.
The vote was conducted at the Netflix annual shareholders meeting at the company's headquarters in Los Gatos, California. According to a Wall Street Journal report, 53% of shareholders voted against the resolution to create an independent chairman.
"Netflix has demonstrated extraordinary long-term success under the leadership of Reed and the board," a Netflix representative told the WSJ, declining further comment