Netflix Inc co-founder Reed Hastings has resigned as CEO. Hastings said that the board and I believe that now is the right time for me to resign my position and hand over the command to my successor.
Netflix Inc co-founder Reed Hastings has resigned as CEO. He said he would hand over the reins of Netflix to longtime partner and co-CEO Ted Sarandos and the company’s Chief Operating Officer Greg Peters. Reed Hastings will now serve as executive chairman. Ted Sarandos and Grace Peters will take over as CEOs.Let us tell you that Peters and Sarandos were promoted during the Corona period (July 2020) when it was a challenging time for the company. These changes to Netflix will be effective immediately.
According to the information, the shares of the company fell about 38% last year. However, later it saw a jump of 6.1%. The streaming video pioneer also said Netflix picked up more subscribers than expected at the end of last year. According to reports, Netflix has been under pressure since the first half of 2022. Netflix lost subscribers in the first half of 2022.But growth was seen in the second half but the pace was still slow. Netflix said it added 7.66 million subscribers in the fourth quarter. The streaming company also beat Wall Street’s forecast of 4.57 million with the help of “Harry and Meghan” and “Wednesday” in the battle to add television viewers.
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Netflix Inc co-founder Reed Hastings has resigned as CEO. He said he would...N27 NewsN27Adminenglish@n27news.inEditorN27 News
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