Reed Hastings announced that he has stepped down as Netflix's co-CEO and will now serve as an executive chairman.
Starting Friday, Greg Peters will step up from Chief Operating Officer to become Ted Sarandos's co-CEO, Hastings said in a blogpost.
The company promoted Sarandos to co-CEO alongside Hastings in July 2020 and Peters to the Chief Operating Officer.
"I'm so proud of our first 25 years, and so excited about our next quarter of a century, " Hastings said.
"Ted, Greg and I have been working closely together in different capacities for 15 years, " he added.
Moreover, he announced that the company has made Bela Bajaria Chief Content Officer and Scott Stuber chairman of Netflix Film.
According to Hastings, both the current co-CEOs "can always be relied upon to put Netflix's interests first".
"For myself, I'll be helping Greg and Ted, and, like any good Chairman, be a bridge from the board to our co-CEOs. I'll also be spending more time on philanthropy, and remain very focused on Netflix stock doing well, " Hastings said.
"We start 2023 with renewed momentum as a company and a clear path to reaccelerate our growth. I'm thrilled about Ted and Greg's leadership, and their ability to make the next 25 years even better than the first, " he added.Reed Hastings announced that he has stepped down as Netflix's co-CEO and will now serve as an executive chairman.
Starting Friday, Greg Peters will step up from Chief Operating Officer to become Ted Sarandos's co-CEO, Hastings said in a blogpost.
The company promoted Sarandos to co-CEO alongside Hastings in July 2020 and Peters to the Chief Operating Officer.
"I'm so proud of our first 25 years, and so excited about our next quarter of a century, " Hastings said.
"Ted, Greg and I have been working closely together in different capacities for 15 years, " he added.
Moreover, he announced that the company has made Bela Bajaria Chief Content Officer and Scott Stuber chairman of Netflix Film.
According to Hastings, both the current co-CEOs "can always be relied upon to put Netflix's interests first".
"For myself, I'll be helping Greg and Ted, and, like any good Chairman, be a bridge from the board to our co-CEOs. I'll also be spending more time on philanthropy, and remain very focused on Netflix stock doing well, " Hastings said.
"We start 2023 with renewed momentum as a company and a clear path to reaccelerate our growth. I'm thrilled about Ted and Greg's leadership, and their ability to make the next 25 years even better than the first, " he added.