Keeping it to the Point
- Netflix Co-founder Reed Hastings steps down as Netflix’s CEO.
- Ted has been appointed as the brand CEO of Netflix.
- Hastings is not leaving the company; he will remain an important part of the Chairman.
By Crox Media: Netflix Co-founder Reed Hastings has stepped down from his role as the CEO and Ted has been appointed as the New CEO. Interestingly, the news shocked the analyst when the streaming platform crossed 7 million subscribers at the end of last year. Harry and Meghan’s web series draw was a huge draw.
In a blog, Hastings shared that Ted has been appointed as the new CEO of Netflix “Starting from today, Greg Peters will step down as COO to become Ted as new CEO. Going forward I will be serving as the Executive Chairman, a role that often (Jeff Bezos, and Bill Gates) after they pass Baton to others. Ted, Greg, and I have been working for different departments for over 15 years. As in common, we always try to bring out the best in each other. And I look forward to working together for many years to come”.
In his blog, he highlighted that Ted and Greg had contributed to the growth of the Company.
The first six months of 2022 were not that good for Netflix. The company was experimenting with various solutions to generate good revenue. But things are now on a good track for the company.