Bela Bajaria
COCA COLAAbout Bela Bajaria
Bela Bajaria is an independent director of The Coca-Cola Company, age 54, appointed to the Board effective October 17, 2024; she serves on the Talent and Compensation Committee . Her core credentials include global content leadership as Chief Content Officer at Netflix (overseeing a ~$17B annual content budget), marketing and digital innovation expertise, and risk oversight across worldwide productions; she sits on Netflix’s leadership team .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Netflix, Inc. | Chief Content Officer | Jan 2023–present | Oversees all TV/film globally; ~$17B content budget; leadership team; expanded into live programming (WWE “Raw”, NFL Christmas rights) . |
| Netflix, Inc. | Head of Global TV | Oct 2020–Jan 2023 | Led English and local-language scripted/unscripted series globally . |
| Netflix, Inc. | Vice President of Content | Nov 2016–Oct 2020 | Joined Netflix in 2016; scaled originals and global slate . |
| Universal Television LLC | President | Jun 2015–May 2016 | Rebuilt studio; shepherded “Chicago Fire”, “The Mindy Project”, “Unbreakable Kimmy Schmidt” . |
| Universal Television LLC | Executive Vice President | Aug 2011–Jun 2015 | Led development and production across genres . |
External Roles
| Category | Company/Institution | Role | Tenure/Notes |
|---|---|---|---|
| Current public company boards | None | — | No current public company boards . |
| Prior public company boards (past 5 years) | None | — | No prior public company boards in past five years . |
Board Governance
| Item | Detail |
|---|---|
| Independence | Determined independent under NYSE standards; Board affirmed no material relationship with KO . |
| Committee assignments | Talent and Compensation Committee member; appointed effective Oct 17, 2024 . |
| Attendance/engagement | In 2024, Board held 5 meetings; committees held 25; overall attendance ~98%; each Director attended ≥75% of Board/committee meetings during their service period . |
| Board refreshment | Joined via Governance Committee process; KO added five new Directors in past five years . |
| Executive sessions | Non-employee Directors hold executive sessions at each regular Board meeting; chaired by Lead Independent Director . |
| Election history | Joined the Board effective Oct 17, 2024; nominated for election for the 2025–2026 term . |
Fixed Compensation
| Component | 2024 Amount | Notes |
|---|---|---|
| Cash retainer (prorated) | $36,000 | Annual cash retainer is $90,000; Bajaria’s 2024 cash fees reflect partial-year service from Oct 17, 2024 . |
| Committee/Chair fees | $0 | No chair roles; KO chair fees: $30,000 (Audit), $25,000 (Talent & Comp), $20,000 (others); Lead Independent Director $30,000 . |
| Meeting fees | $0 | KO pays no fees for Board/committee meeting attendance . |
| Other compensation | $613 | Charitable match, insurance/perqs (see Director Plan detail) . |
Program features: cash paid quarterly; option to defer cash into share units; no meeting fees; reimburse reasonable Board-related expenses .
Performance Compensation
| Component | 2024 Amount/Units | Terms |
|---|---|---|
| Equity retainer (prorated share units) | $80,000 grant-date fair value | Annual equity retainer is $200,000 credited in deferred share units; prorated for 2024 service; units accrue dividend equivalents; paid in cash only after leaving the Board (lump sum or up to five installments) . |
| Outstanding share units (as of 12/31/2024) | 1,322 units | Deferred under the Directors’ Plan; settle in cash post-service . |
Note: Director equity awards are time-based retainers, not performance-conditioned (no PSU/option awards for directors at KO) .
Other Directorships & Interlocks
| Topic | Finding |
|---|---|
| Other public boards | None (current and past five years) . |
| Compensation committee interlocks | None; KO’s Talent and Compensation Committee (Everson, Bajaria, Lagomasino) comprised solely of independent Directors; no interlocks or insider participation disclosed for 2024 . |
Expertise & Qualifications
- Strategic/financial: Oversees ~$17B annual content budget; Netflix leadership team member responsible for global strategy .
- Marketing and consumer engagement: Deep storytelling/pop culture expertise; content that resonates with global audiences (Stranger Things, Squid Game, Bridgerton) .
- Innovation/digital: Leads digital content distribution and new formats (live sports/events, anime adaptations) .
- International exposure and risk: Manages productions across 27 countries; experienced in economic, regulatory, reputational risk management worldwide .
- Recognition: TIME 100 (2022); Fortune Powerful Women (five years) .
Equity Ownership
| Measure | Amount | Notes |
|---|---|---|
| Beneficial ownership | 2,100 shares | Held via family trust; voting/investment power per trust; percent of outstanding shares: less than 1% (*) . |
| Deferred share units | 1,322 units | Directors’ Plan units not counted as outstanding; settle in cash post-service . |
| Hedging/pledging | Prohibited for Directors under KO’s Global Insider Trading Compliance Policy; discourages for other employees . | |
| Ownership guidelines | Directors hold annual equity retainers until post-service; after three years, equity ownership level at least 5× annual cash retainer . |
Governance Assessment
- Committee role and engagement: Immediate appointment to Talent and Compensation Committee; co-signed the Committee’s letter previewing 2025 incentive design and the Compensation Committee Report—signals active engagement in pay governance .
- Independence and conflicts: Board affirmed independence; 8‑K disclosed no related‑party transactions under Item 404(a); KO’s related‑person transaction policy and categorical standards applied—no material relationships .
- Attendance and Board processes: KO reported ~98% overall attendance and ≥75% attendance compliance for all Directors in 2024; strong executive session practices and Lead Independent Director oversight .
- Director pay alignment: Majority of director compensation delivered via deferred share units payable only after Board service, enhancing long-term alignment; no meeting fees; robust stock ownership and holding requirements .
- Risk indicators: Hedging/pledging prohibition reduces alignment risks; Compensation Committee interlocks absent; no related‑party transactions; change‑in‑control equity plans use double‑trigger terms (executive program context) .
Potential watch items (not current red flags):
- External executive role: As Netflix CCO, Bajaria’s media/streaming relationships could intersect with KO’s marketing and content strategies; KO disclosed no related‑party transactions and affirmed independence—continue monitoring for any business dealings requiring review under KO’s related‑party policy .
RED FLAGS: None disclosed (no related‑party transactions, no hedging/pledging, no interlocks, independence affirmed) .