Netflix founder Reed Hastings has announced that he will step down as CEO.
Hastings said he will continue as executive chairman.
Ted and Greg are now co-CEOs. After 15 years together we have a great bond and I have a lot of confidence in his leadership. Double the heart, double the ability to delight members and accelerate growth. Proud to serve as Executive Chairman for many years to come https://t.co/oYc0laqMXQ
— Reed Hastings (@ReedHastings) January 19, 2023
Trending: JUST IN: Maricopa County Files Weak ‘Responding Brief’ In Curry Lake’s Appellate Case – Conference Set For February 1st! – Added filing
Netflix founder Reed Hastings is stepping down from his role as CEO but will remain as chairman, the company announced Thursday alongside its earnings report.
Co-CEO Ted Sarandos will remain in his position. Most recently Chief Operating Officer Greg Peters will replace Hastings as co-CEO. Peters will also join the company’s board.
“I want to thank Reed for his visionary leadership, guidance and friendship over the past 20 years. We have all learned a lot from his intellectual rigor, honesty and willingness to take big bets – and we look forward to working with him for many years to come,” Sarandos said in a written statement.
Hastings co-founded Netflix in 1997. Sarandos was promoted to co-CEO alongside Hastings in July 2020, at the same time Peters was appointed to his COO role. The company did not specify in its Thursday announcement whether it would backfill the COO role.