Netflix co-founder Reed Hastings stepped down as CEO.
Hastings’ resignation comes after Netflix reported 7.66 million new subscribers in the fourth quarter, beating Wall Street’s expectations of 4.57 million
The number of Netflix users decreased in the first half of 2022. Although it resumed growth in the second half, the new customer inflow rate is still lower than in recent years.
Netflix co-founder Reed Hastings stepped down as co-CEO, handing over control of the company to co-CEO Ted Sarandos and COO Greg Peters. He will now be Executive Chairman.