Reed Hastings, who co-founded Netflix, announced Thursday that he’s stepping down to dedicate his time to charitable work and other projects.
Hastings, the current chairman of the board at Los Gatos-based Netflix, has announced he won’t seek re-election when his term ends in June. The company shared this news in a letter to shareholders along with its first quarter financial results.
According to Hastings, his most important achievement at Netflix wasn’t any one specific choice, but rather creating a company culture centered around making customers happy. He aimed to build a lasting organization that people would love and that would continue to thrive for many years.
He explained that Ted Sarandos and Greg Peters, the co-CEOs of Netflix, are deeply dedicated to the company, which allows him to pursue other opportunities.
This is a developing story.
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2026-04-17 00:01