Reed Hastings steps down as CEO

Netflix co‑founder Reed Hastings has stepped down as chief executive officer, ending a historic era in which he led the company from a DVD‑by‑mail startup into the world’s largest streaming service. After serving as CEO for more than 25 years, Hastings handed over the day‑to‑day leadership to longtime executives Ted Sarandos and Greg Peters, who now serve as co‑CEOs. Hastings transitioned into a new role as executive chairman of Netflix’s board, marking the culmination of a long‑planned leadership succession aimed at ensuring the company’s future growth and stability under seasoned internal leadership. The shift reflects Netflix’s evolution and challenges in a rapidly changing entertainment landscape, where competition from rivals and changing consumer habits have reshaped the industry. Hastings’ decision to step away from the CEO role was driven by strategic succession planning, allowing him to focus on broader long‑term vision work while empowering Sarandos and Peters to drive operational excellence. As executive chairman, Hastings continues to influence Netflix’s direction, holding a key governance position even as he steps back from daily management. #ReedHastings #NetflixLeadership #StreamingWars #CEOTransition #BusinessNews #TechIndustry #MomentsOfLife #MoofLife_Moment #MoofLife