Netflixhas a new co-CEO.
It comes as company co-founderReed Hastingssteps down to become Executive Chairman.
Hastings said the moves are the last in the companys succession planning.
(L-R) Greg Peters, Reed Hastings, Bela Bajaria and Scott StuberGetty Images; Netflix
I am so excited to start this new chapter with Greg as co-CEO.
In terms of Bejaria and Stubers new titles, its not entirely clear of the reporting structure.
Sarandos said, Bela and Scott are outstanding creative executives with proven track records at Netflix.
I couldnt be more excited to work alongside them as we seek to delight audiences for years to come.
We can do so much more to better entertain the world and deliver more joy to our members.
Our board has been discussing succession planning for many years (even founders need to evolve!).
It was a baptism by fire, given COVID and recent challenges within our business.
So the board and I believe its the right time to complete my succession.
Starting today, Greg Peters will step up from COO to become Teds co-CEO.
after they pass the CEO baton to others.
Ted, Greg and I have been working closely together in different capacities for 15 years.
I look forward to working with them in this role for many years to come.
Ted and Greg have developed great trust and respect for each other through their collective successes and failures.
In addition, they can always be relied upon to put Netflixs interests first.
Ill also be spending more time on philanthropy, and remain very focused on Netflix stock doing well.
Also, today, we have made Bela Bajaria Chief Content Officer and Scott Stuber Chairman of Netflix Film.
Its been amazing to see the enormous strides weve made across TV and film under their leadership.
We start 2023 with renewed momentum as a company and a clear path to reaccelerate our growth.
Heres to the next chapter of Netflix and our leadership.
