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Fortune

Chloe Taylor

Hollywood writers take revenge on Netflix as shareholders follow union’s advice and reject executive compensation deals

Netflix Hollywood Greg Peters Ted Sarandos Meredith Stiehm Reed Hastings Comcast WGA

(Credit: Frederic J. Brown—AFP/Getty Images)

Netflix shareholders rejected the company’s pay packages for top executives in a rare move on Thursday after striking Hollywood writers urged them to vote against the plans.

Netflix held its annual shareholder meeting on June 1, during which a non-binding “say on pay” vote was held, which sought approval for huge pay offerings for top executives including co-CEO Ted Sarandos, new co-CEO Greg Peters, and executive chairman and former CEO Reed Hastings.

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