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Netflix founder Reed Hastings is giving up his CEO position – EAST AUTO NEWS

Netflix founder Reed Hastings is giving up his CEO position


Netflix co-founder and CEO, Reed Hastings, is in Sydney to satisfy with executives of different subscription streaming providers, February 25, 2022.

Wolter Peeters | Fairfax Media | Getty Pictures

Netflix founder Reed Hastings is giving up his CEO position however will stay on as chairman, the corporate introduced alongside its earnings report Thursday.

Co-CEO Ted Sarandos will stay in his place. Greg Peters, most just lately chief working officer, will assume the submit of co-CEO in Hastings’ place. Peters will even be part of the corporate’s board.

“I wish to thank Reed for his visionary management, mentorship and friendship during the last 20 years. We have all realized a lot from his mental rigor, honesty and willingness to take massive bets – and we sit up for working with him for a lot of extra years to come back,” stated Sarandos in a written assertion.

Hastings co-founded Netflix in 1997. Sarandos was promoted to co-CEO alongside Hastings in July 2020, the identical time that Peters was appointed to his COO position. The corporate didn’t specify whether or not it might backfill the position of COO in its Thursday announcement.

Hastings tweeted on Thursday that he plans to remain on as government chairman 

Netflix founder Reed Hastings is giving up his CEO position – EAST AUTO NEWS
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