Netflix, CEO and co-founder Reed Hastings has step down as the director of the company. The move will usher the new regime to continue innovating and serving the platform’s customers with new and exciting content.
Hastings is not leaving the leading streaming platform for good however, his transitioning to a new position as the President of the company.
Hastings announced that both Ted Sarandos and Greg Peters will continue serving the company as co-CEOs.
Hastings tweeted: “Ted & Greg are now co-CEOs. After 15 years together we have a great shorthand & I’m so confident in their leadership. Twice the heart, double the ability to please members & accelerate growth. Proud to serve as Executive Chairman for many years to come.”
One of the points that Netflix has decided to change is its measuring stick. Starting this month, the company will focus on revenue instead of the number of subscribers. To do this, one of the measures they will take will be to allow subscriber forecasts to be made.
Hastings and Marc Randolph founded Netflix back in 1997, with 25 years experience the company is here to stay.
