In a year marked by some high-profile instances of shareholder activism, Netflix stockholders have voted director Jay Hoag, a venture capital investor, off the board.
The vote follows a recommendation by leading proxy advisory firm Institutional Shareholder Services. ISS, which issues deep-dive analyses of issues up for vote at the annual meetings of many public companies, including the election of directors, had recommended a vote against Hoag for poor attendance – or failing to show up for at least 75% of his total board and committee meetings in 2024 without disclosing the reason for the absences.
He received just 21.6% support among votes cast, a rare instance of shareholders rejecting a board candidate. Earlier this week, Warner Bros. Discovery shareholders voted in large numbers against the company’s compensation of its top executive officers led by CEO David Zaslav. His $51.9 million package did not pass a so-called say-on-pay
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