Reed Hastings Steps Down As Co-Ceo of Netflix

Published on: 20th January 2023 at 9:14 AM

Sofia Geraghty

1 Min Read

Reed Hastings, co-chief executive, Netflix

Netflix Co-Founder Reed Hastings is stepping down from his role as co-CEO at the streaming giant.

He will remain in the position of executive chairman. Meanwhile, COO Greg Peters has been promoted to co-CEO alongside Ted Sarandos.

In a 20th January update, Reed said the “board has been discussing succession planning for many years” adding that he’s increasingly delegated the management of Netflix to Peters and Sarandos.

Sarandos was promoted to the position of co-CEO alongside Hastings back in July 2020.

In other changes, Bela Bajaria has been promoted to chief content officer and Scott Stuber will become chairman Netflix Film.

Reed said he would also be spending more time on philanthropy and that he looks forward to supporting Sarandos and Peters “for many years to come”.

By Sofia Geraghty

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Sofia is an award-winning B2B journalist with experience in investigative journalism and TV presenting. She worked as a journalist at the UK’s leading insurance publication before moving to TV presenting within financial services. She is passionate about equality and female empowerment and was awarded an industry-wide broadcast media award (and was shortlisted for another) for her work in promoting diversity within the insurance industry.