Reed Hastings, who co-founded Netflix and led Hollywood’s charge into streaming-first strategy over the past decade, is exiting his role as co-ceo of the media giant but will stay on as executive chairman, the company said Thursday.
As part of the succession, COO Greg Peters will become co-ceo alongside Ted Sarandos, who has held that title since July 2020. In a statement, Hastings said the plan has been in the works for some time, since the elevation of Sarandos and Peters two and a half years ago.
“It was a baptism by fire, given Covid and recent challenges within our business,” Hastings wrote in a post on Netflix’s site. “But they’ve both managed incredibly well, ensuring Netflix continues to improve and developing a clear path to reaccelerate our revenue and earnings growth. So the board and I believe it’s the right time to complete my succession.”
Peters,...
As part of the succession, COO Greg Peters will become co-ceo alongside Ted Sarandos, who has held that title since July 2020. In a statement, Hastings said the plan has been in the works for some time, since the elevation of Sarandos and Peters two and a half years ago.
“It was a baptism by fire, given Covid and recent challenges within our business,” Hastings wrote in a post on Netflix’s site. “But they’ve both managed incredibly well, ensuring Netflix continues to improve and developing a clear path to reaccelerate our revenue and earnings growth. So the board and I believe it’s the right time to complete my succession.”
Peters,...
- 1/19/2023
- by Alex Weprin and Erik Hayden
- The Hollywood Reporter - Movie News
IMDb.com, Inc. takes no responsibility for the content or accuracy of the above news articles, Tweets, or blog posts. This content is published for the entertainment of our users only. The news articles, Tweets, and blog posts do not represent IMDb's opinions nor can we guarantee that the reporting therein is completely factual. Please visit the source responsible for the item in question to report any concerns you may have regarding content or accuracy.