NEW YORK (TheStreet) -- Netflix (NFLX) shareholders will vote on whether to separate the roles of chairman and chief executive at the company's annual meeting Monday. Those positions are currently held jointly by Netflix co-founder Reed Hastings.
Stockholders Calpers, a multi-billion-dollar Californian public pension fund, and Scott M. Stringer, NYC overseer of city pension funds, are pushing for the vote.
Those arguing for the company structure to remain the same, however, point out that its current model has served the company well since the online streaming service went public in 2004. Since then, shares have soared more than 1,200%. Even over the last year, the company is up nearly 94%.
TheStreet Ratings team rates NETFLIX INC as a Hold with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate NETFLIX INC (NFLX) a HOLD. The primary factors that have impacted our rating are mixed -- some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."