Reed Hastings has officially announced that he is stepping down as the Co-CEO of Netflix. He has revealed that he plans to continue as executive chairman.
Hastings timing of stepping down is interesting. Netflix had issues with losing subscribers early in 2022. The company has recently revealed that they have gained 7 million subscribers.
“Since Reed started to delegate management to us, Greg and I have built a strong operating model based on our shared values and like-minded approach to growth, I am so excited to start this new chapter with Greg as co-CEO.” – Ted Sarandos, Netflix Co-CEO
Going forward Ted Sarandos and current COO Greg Peters will take the lead as co-CEOs of Netflix.
