Netflix co-founder Reed Hastings resigned as CEO
Netflix co-founder Reed Hastings resigned as CEO

Co-founder of Netflix Inc.’s OTT service Reed Hastings announced his resignation as CEO on Thursday.

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He stated that it was the appropriate moment to make a decision when quitting. Taking over as the company’s co-CEO and CFO are Ted Sarandos and Greg Peters.

Grace Peters and Ted Sarandos will take over as CEOs of Netflix

As of right now, Reed Hastings will be the executive chairman. Grace Peters and Ted Sarandos are the new CEOs. These Netflix updates will take effect right away.

Netflix to lose subscribers in 2022

In the first half of 2022, Netflix saw a decline in subscribers. The pace remained sluggish despite improvements in the second half. Following this, Netflix modified its policies in order to help the business.

Netflix broke all records last Thursday

Meanwhile, Netflix surpassed 23 crore members on Thursday (January 19), shattering all previous records. On the other side, Netflix stock saw a roughly 38% decline in value last year. The company’s trade, however, later rose by 6.1 percent to $335.05.

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