Greg Peters will be new Netflix co-CEO. Here’s how much he will earn

Greg Peters has landed a sweet deal after assuming charge as Netflix’s new co-CEO following the stepping down of co-founder and former chief executive Reed Hastings. The former chief operating officer, who oversaw the streaming giant’s foray into advertising and gaming, is set to earn an annual salary of $3 million, according to a Securities and Exchange Commission filing reported by Business Insider.

On top of that, he is also entitled to an approximate bonus of over $14 million and an annual stock option estimated at around $17 million. His current fat paycheck of $34.65 million is a huge jump from the $24 million he is reported to have taken home in his earlier position and is equal to what Hastings raked in. On the other hand, Hastings, now executive chairman, will take a salary of just $500,000, stock options of $2.5 million and an undisclosed amount of bonus.