Netflix Founder And Co-CEO Is Stepping Into A New Role

Netflix’s founder and one in all its co-CEOs, Reed Hastings, is stepping down from his put up and transitioning to a brand new function on the streaming leisure firm.

As a part of Netflix’s “succession process,” the corporate has introduced that Hastings will turn out to be govt chairman of Netflix. Ted Sarandos will stay co-CEO, and former COO Greg Peters will step as much as turn out to be the opposite co-CEO of Netflix, the corporate introduced.

Sarandos stated in a press release, “I want to thank Reed for his visionary leadership, mentorship, and friendship over the last 20 years. We’ve all learned so much from his intellectual rigor, honesty and willingness to take big bets–and we look forward to working with him for many more years to come.”

Peters added: “I feel humbled and privileged to become co-CEO of Netflix. Ted and I have worked together for many years–building tremendous trust and respect for each other. We’re also motivated by the same goal: a desire to better serve our members so that we can continue to grow our business.”

Hastings stated in his personal assertion that as govt chairman, he’ll assist Peters and Sarandos as he acts like a “bridge from the board to our co-CEOs.” Hastings additionally stated he plans to spend extra time on philanthropy. The govt went on to say that he continues to stay “very focused on Netflix stock doing well.”

“I’m so proud of our first 25 years, and so excited about our next quarter of a century. We can do so much more to better entertain the world and deliver more joy to our members,” Hastings stated.

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