Netflix starts 2023 with a historic change among its leaders. Reed Hastings has announced that he will step down as CEO of the company, a position he shared with Ted Sarandos, after 25 years with the company. Of course, he will not stop being linked to her since he will remain as Executive President and will also dedicate himself “to philanthropy”.
Let us remember that Hastings was the founder of the company together with Marc Randolph, who left her in 2002. Together with Ted Sarandos, the executive was responsible for turning an innovative DVD rental start-up into the pioneer and leading company in the world of subscription video on demand (SVOD).
a new stage
Now, the CEO position will continue to be shared… just like in recent years. Along with Ted Sarandos will be Greg Peters, COO (head of operations), with whom he has been working for 15 years. Also, bela bajaria becomes CCO (lead of content) and scott stubber President (Chairman) of Netflix Film.
The founder talks about them and their achievements like this:
“Looking back, Ted had the early foresight and ability to go into original programming, changing our trajectory as a company. He then moved quickly to expand with international originals, movies, animation and reality shows… bets that have helped swell our content grid that took courage, given all the skepticism. Greg has been instrumental in driving our collaborations, building and launching publicity, driving us deeper in personalization, rebuilding our talent organization, and helping to strengthen our culture. He also spent many years in Japan, launching our early efforts in Japanese originals as the country’s general manager and is currently building our gaming initiative.”
The news It has already started to show up on the stock market., with a slight drop… but we would have to see how the markets react throughout today. This change also comes just when Netflix has announced its quarterly report for the end of 2022. In them it has announced a rise in 7.66 million subscribersexceeding forecasts for that period.