Netflix Gives Eye-Popping Raise to CEO

Reed Hastings gets rewarded for stock's meteoric rise

By Kevin Spak,  Newser Staff

Posted Dec 31, 2013 8:50 AM CST

(Newser) – Netflix CEO Reed Hastings is being rewarded handsomely for the network's recent success in the original content game. The CEO's pay will jump 50% in 2014, according to regulatory filings spotted by Reuters. He'll make $6 million, split evenly between stock and cash. Other top executives will get a pay raise, too. The raises come after Netflix's stock rose nearly 300% in 2013, and the news marks qute a turnaround for Hastings from 2011.

Reed Hastings, CEO of Netflix, announces Netflix's expansion to Toronto, Canada, Sept. 22, 2010.
Reed Hastings, CEO of Netflix, announces Netflix's expansion to Toronto, Canada, Sept. 22, 2010.   (AP Photo/The Canadian Press, Adrien Veczan)
Netflix CEO Reed Hastings poses for a photo at Netflix headquarters in Los Gatos, Calif.
Netflix CEO Reed Hastings poses for a photo at Netflix headquarters in Los Gatos, Calif.   (AP Photo/Paul Sakuma)
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