NETFLIX, INC. | Director vote - Mathias Döpfner at NETFLIX, INC.

Status
82.33% votes in favour
AGM date
Previous AGM date
Proposal number
1
Resolution details
Company ticker
NFLX
Submitted by
Inyova Impact Investing
Resolution ask
Strengthen board oversight of issue
ESG theme
  • Social
ESG sub-theme
  • Decent work
Type of vote
Director vote
Filer type
Management
Company sector
Consumer Discretionary
Company HQ country
United States
Whereas clause
Inyova is recommending investors vote AGAINST director Mathias Döpfner due to severe allegations by renowned international newspapers that make him appear to be unfit for such a position:

Based on investigative reports by the New York Times (October 2021) and Financial Times (February 2022), Döpfner has reportedly shown an inappropriate attitude towards presumed survivors of sexual abuse. It is reported that Döpfner allegedly rallied to protect then-editor-in-chief of one of Axel Springer’s media houses after an external investigation determined he had abused his power by promoting and demoting women after having sex with them.

A report by Die Zeit (April 2023) that featured leaked messages by Mathias Döpfner provides more insights into his views on disadvantaged groups such as women, Muslims, and people from the formerly socialist states of eastern Germany. Reportedly, he refers to Muslims as “intolerant” and East Germans as “either communists or fascists”.

Embracing and driving diversity, equity and inclusion on screen and behind the camera is a key selling point for Netflix. There are currently no charges or convictions, but based on these media reports, we fear that keeping Mathias Döpfner on the board of directors may have negative consequences for the company.
Supporting statement
Inyova has tried multiple times to establish dialogue with Netflix regarding Mathias Döpfner but has not received a response.

As shareholders of Netflix, we are deeply concerned about the impact Mathias Döpfner’s alleged behavior might have on the culture and reputation of Netflix. We see severe risks for Netflix as a brand: from losing credibility and customers, to failing to attract key talent to forfeiting relevant productions by alienating actors, directors, and producers from diverse backgrounds.

Sources:
“At Axel Springer, Politico’s New Owner, Allegations of Sex, Lies and a Secret Payment” published by the New York Times on 17 October 2021 (URL: https://www.nytimes.com/2021/10/17/business/media/axel-springer-bild-julian-reichelt.html)
“Women spoke up, men cried conspiracy: inside Axel Springer’s #MeToo moment”, published by the Financial Times on 8 February 2022 (URL: https://www.ft.com/content/0317edd2-cf37-4d32-9e03-e7288904126c)
“"Aber das ist dennoch die einzige Chance, um den endgültigen Niedergang des Landes zu vermeiden"” published by Die Zeit on 13 April 2023 (URL: https://www.zeit.de/2023/16/mathias-doepfner-axel-springer-interne-dokumente)
“‘I’m all for climate change’: Axel Springer CEO faces heat over leaked messages” published by the Guardian on 13 April 2023 (URL: https://www.theguardian.com/world/2023/apr/13/axel-springer-ceo-mathias-dopfner-leaked-messages-reported)

How other organisations have declared their voting intentions

Organisation nameDeclared voting intentionsRationale
EFG Asset ManagementForA vote FOR all director nominees is warranted at this time.
Rothschild & co Asset ManagementFor
Kutxabank Gestion SGIIC SAU.Against

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