Netflix shareholders withhold support for executive pay package

Netflix Inc shareholders on Thursday withheld their support for the company’s executive pay package, in a non-binding vote that followed a call by striking Hollywood writers to reject the proposed 2023 compensation.

The Writers Guild of America West had urged investors to vote against the compensation offered to Netflix’s top executives, arguing such a vote would be “inappropriate” during the strike, which has entered its fifth week.

“While investors have long taken issue with Netflix’s executive pay, the compensation structure is more egregious against the backdrop of the strike,” wrote Writers Guild West president Meredith Stiehm.