Reed Hastings is stepping down as Netflix’s co-CEO

Illustration of the Netflix wordmark on a red and black background. Nick Barclay / The Verge

As Netflix announced its quarterly earnings, co-founder Reed Hastings revealed that after 25 years of running the company that grew from delivering video disc rentals by mail into a streaming behemoth, he is no longer its CEO.

He named content chief Ted Sarandos co-CEO in 2020, and Sarandos will continue on in that role but will now share duties as co-CEO with Greg Peters, Netflix’s former chief operating officer. In other executive moves, Bela Bajaria is now Netflix’s chief content officer, and Scott Stuber has b...

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