Carl Icahn, the billionaire who holds a 10 percent stake in Netflix Inc., said he has no plans to seek seats on the online video service’s board and will keep his shares.
Icahn said in an interview Monday that he informed the Los Gatos, California-based company three weeks ago that he wouldn’t seek seats on the seven-person board during the current nominating period. Chief Executive Officer Reed Hastings is positioning the company well for growth, he said.
“We think he’s done a great job,” said Icahn, 77, by telephone. “When you make $600-$700 million, you don’t punch the CEO in the face.”
© Copyright 2014 Bloomberg News. All rights reserved.