Netflix founder Reed Hastings steps down as co-CEO

Netflix founder and co-CEO Reed Hastings announced Thursday that he would step down after more than two decades at the company.
While news of his departure comes as a shock, Hastings noted that Netflix has planned its next era of leadership “for many years” in the announcement, which was shared on the company’s blog.
In 2020, Netflix named Ted Sarandos, who has long led content efforts at the company, as co-CEO alongside Hastings. At the time, Netflix characterized the change as formalizing the way that the company was already operating.
Netflix will maintain the co-CEO struc

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