Netflix co-founder Reed Hastings steps down after 30 years

Reed Hastings, the co-founder and former CEO of Netflix, is formally relinquishing his duties as chairman to allow for the next phase of the company’s growth. Hastings has been with Netflix since its inception in 1997 and played a pivotal role in shaping its early success. As part of his transition, the board of directors will be reconstituted, paving the way for a new era under the leadership of CEO Ted Sarandos. Hastings’ departure marks a significant milestone in the company’s history, as he takes on a more advisory role to ensure a smooth handover. His dedication to Netflix has been unwavering, and his legacy will undoubtedly continue to shape the platform’s future trajectory.