Netflix leadership shake-up: Cofounder Reed Hastings to step down

Reed Hastings, one of Netflix’s co-founders, is set to leave the company after nearly three decades, according to the Q1 2026 earnings report released by the streaming giant. Hastings’ departure comes as part of a broader shift in leadership at the organization, with his term expiring in June and him indicating he will not seek re-election to the board. Hastings took the reins as CEO in 1999, following Netflix’s initial launch in 1997, and held the position until 2023. During his tenure, he played a pivotal role in shaping the company into the global streaming powerhouse it is today. As chairman, Hastings continues to oversee the organization’s strategy and direction. The news marks a significant departure for Hastings, who has been an integral part of Netflix’s growth and success over the years. His legacy at the company will be remembered as one that prioritized member experience and built a culture that could be replicated by others in the industry.