Netflix boss steps down as board plans transition to add subscribers
Netflix co-founder Reed Hastings has stepped down as the CEO of the company.
Reed Hastings, co-founder of Netflix, gave the company's leadership to co-CEO Ted Sarandos and COO Greg Peters as he stepped down as the co-CEO. He will now serve as an executive chairman. Meanwhile, in view of the company reporting that it had more subscribers than anticipated at the end of 2022, shares of Netflix increased 6.1% to $335.05 in after-hours trading.