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BuzzFeed Slashes CEO Jonah Peretti’s Salary, Shifting Most of His Compensation to Stock. Will It Make a Difference?
BuzzFeed is shifting compensation for CEO Jonah Peretti and other execs to be mostly stock. Can that turn things around at the struggling company?
BuzzFeed is changing the way it compensates founder and CEO Jonah Peretti and other top execs, who will now receive most of their pay packages in stock — a bid to persuade shareholders that the senior leaders will be better incentivized to turn things around at the struggling digital media company. It’s unclear the extent to which the executive compensation rejiggering can change BuzzFeed’s fortunes, amid the ongoing decline in advertising revenue. Peretti, in a statement about the change to the equity compensation model, said, “During inflection points, it’s best to organize ourselves like a startup, where we can act quickly, test, learn and grow.
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