Reed Hastings has decided to leave the company he founded, after 25 years in charge of Netflix

Reed Hastingsone of the co-founders of Netflix and, until yesterday, company CEOhas announced his resignation from the position of CEO of the company after twenty five years associated with her.

It has done so by taking advantage of Netflix’s quarterly earnings announcement, noting that, as of now, there will be two people in charge of the company: ted sarandos, head of content at Netflix; Y Greg Petersformer director of operations.

That, however, will not be the only novelty on the company’s board. Hereinafter, bela bajaria will be the new head of Netflix content.

Hastings himself has confirmed that, although he is leaving his position as CEO of Netflix, he will become executive president of the company, a position that, in his words, “founders like Jeff Bezos or Bill Gates decide to take frequently” after having delegated his duties as senior leader of the company.

Ted & Greg are now co-CEOs. After 15 years together we have a great shorthand & I’m so confident in their leadership. Twice the heart, double the ability to please members & accelerate growth. Proud to serve as Executive Chairman for many years to come https://t.co/oYc0laqMXQ

— Reed Hastings (@reedhastings) January 19, 2023

He further explains that Ted and Greg have worked hand-in-hand with him over the past fifteen years, and are therefore more than qualified to lead the company.

Your decision to leave the company comes at a point where Netflix is ​​undergoing big changes due, above all, to the drop in the number of subscribers that the company has been trying to reverse for months. During its last call to investors, Netflix reported having 223 million paying users around the world, and intends to increase this figure with measures such as the lock on account sharing or the inclusion of a new cheaper plan with ads.