Netflix co-founder Reed Hastings is leaving the company after nearly 30 years
American entrepreneur Reed Hastings is leaving Netflix after nearly three decades with the company.
The New York Times reports this.
Hastings will step down as chairman of the board of directors in June and will leave the company permanently after his term ends.
In a letter to shareholders, he explained that the decision stems from a desire to focus on philanthropy and other projects.
Reed Hastings founded Netflix in 1997 alongside Marc Randolph. Initially, the service focused on mailing DVDs, but later evolved into one of the world’s largest streaming platforms.
Hastings led the company as CEO for 25 years and cited his focus on users and the development of corporate culture as his main contributions.
Despite revenue growth in 2026, Netflix shares recently fell by about 8%.
Netflix has declined to bid for Warner Bros.
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