Netflix Shareholders Vote to Shakeup Board Structure

Jun 06, 2012

In a move that could potentially change the way Netflix operates, shareholders voted to change the way the company's board is structured, according to paidContent. In a landslide vote of 26 million to 9 million, shareholders decided they wanted to repeal the company's classified board, meaning they no longer wanted board members to serve staggered terms and instead wanting all board members to go up for a vote at the same time.

While this is a non-binding vote, it will put pressure the board members to give serious consideration to move toward a non-classified board structure. Another vote held among shareholders was to reappoint Richard Barton as director of the board, a role he has held since 2002.