Reed Hastings, one of Netflix’s founders, is giving up his co-CEO title and transitioning into the role of executive chairman.
The company announced the news in a letter to shareholders along with its Q4 earnings on Thursday.
Hastings spent 25 years building Netflix into the streaming giant it is today, transitioning it from a DVD mail service into a global powerhouse. Greg Peters, Netflix’s chief product and COO, will be the next co-CEO, joining Ted Sarandos, who has been in the role since 2020.
