Hastings to focus on philanthropy, other pursuits
© Netflix
Netflix revealed in its quarterly shareholder letter on Thursday that its co-founder and current chairman of the board Reed Hastings will not stand for re-election when his term expires in June, and will instead “focus on his philanthropy and other pursuits.”
Netflix’s statement on Hastings reads:
Reed built a culture of innovation, integrity and high performance that defines who we are today. His vision
and leadership pioneered how the world is entertained, and his legacy and impact are not only felt by all
of us at Netflix, but by audiences around the world. On behalf of the Board and our shareholders, we
extend our deepest thanks for his extraordinary leadership and service.
Hastings and Marc Randolph co-founded Netflix in 1997, and the company first offered DVD rentals via mail to customers, before transitioning to streaming.
Hastings stepped down from his position as co-CEO in January 2023, and began serving as Netflix’s executive chairman. Netflix then appointed Greg Peters as co-CEO to serve alongside Ted Sarandos.
Reed was appointed to the board of directors of the AI company Anthropic in May 2025, and has previously served on the boards of Facebook, Microsoft, and Bloomberg.
Netflix co-founder Randolph left Netflix in 2002.
Netflix bowed out in February of its previous deal to acquire Warner Bros. Discovery, after Warner Bros. Discovery determined that Paramount’s hostile takeover bid was a better deal.
Sources: Netflix (link 2), IndieWire (Kate Erbland)
