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Reed Hastings steps down as Netflix CEO as company posts subscriber gains

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He hands over the reins to longtime partner and co-CEO, Ted Sarandos, and the company's chief operating officer, Greg Peters.

co-founder Reed Hastings announced on Thursday he will step down as chief executive, handing the reins of the streaming service to his longtime partner and co-CEO, Ted Sarandos, and the company's chief operating officer, Greg Peters.

Sarandos and Peters will share the title of chief executives, with Hastings serving as executive chairman. The change is effective immediately, representing the culmination of a decade of succession planning by the board. Both Peters and Sarandos were promoted in July 2020, amid a challenging time for the company.

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Netflix founder Reed Hastings stepping down as co-CEO | CNN BusinessNetflix announced Thursday that its founder Reed Hastings is stepping down as co-CEO at the company and will serve as executive chairman. Hastings will be replaced by co-CEOs Ted Sarandos and Greg Peters. Yay. More democrats being pedophiles It’s a video store Netflix is old fashion. Is Elon buying that too?
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