Reed Hastings, co-founder and longtime former CEO of Netflix, is shifting from executive chairman to chairman of the board.
The move to a non-executive role on the board was described by the company as “part of the natural evolution of our leadership structure and succession planning.”
Hastings, 64, passed the baton to Co-CEOs Ted Sarandos and Greg Peters in 2023 and became executive chairman of the board. The executive has pursued business interests apart from Netflix and has also become an active philanthropist, recently giving $50 million to his alma mater, Bowdoin College.
Along with the Hastings move, which was announced in the company’s quarterly letter to shareholders, the company said longtime board member Tim Haley does not plan to continue in the position.
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The letter referred to Haley as “our longest standing independent director,” with a tenure
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