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Reed Hastings steps down as Netflix CEO after 20 years at the helm

Date: June 5, 2023 Time: 03:16:45

Netflix co-founder Reed Hastings announced Thursday that he is stepping down as CEO of the streaming giant after more than two decades in the role. However, the American executive has assured that he will continue to serve as executive president of the company.

Ted Sarandos, chief content officer, and Greg Peters, the company’s current chief product officer, will now serve as co-CEOs. “Ted and Greg are now co-CEOs (…) Twice the heart and twice the capacity to please members and accelerate growth. I am proud to be able to be CEO for many years,” Hastings tweeted minutes before that Netflix will present the results of its fourth quarter of 2022.

The Netflix platform announced today that it earned 4,491 million dollars in 2022, after adding 55 million in the last quarter of the year. The streaming platform added almost 7.6 million new subscribers in the last three months of the year, which closed with 230.7 million subscribers.

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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