Shulou(Shulou.com)11/24 Report--

According to news in the morning of January 20 Beijing time, Netflix announced on Thursday local time that its co-founder Reed Hastings (Reed Hastings) would give up his position as CEO of the company, but would continue to serve as chairman.

Netflix co-CEO Ted Sarandos (Ted Sarandos) will remain in office. COO Greg Peters (Greg Peters) will replace Hastings as co-CEO and will join the Netflix board.

"I would like to thank Reid for his visionary leadership, guidance and friendship over the past 20 years. we all benefit a lot from his rigor, sincerity and courage, and look forward to working with him for many years to come." Sarandos said in a statement.

Hastings co-founded Netflix in 1997. Sarandos joined Hastings as co-CEO in July 2020. The company did not announce a new COO candidate in a statement on Thursday.

Hastings also tweeted on Thursday that he planned to remain executive chairman of Netflix "for many years to come". His departure comes as the company tries a variety of transformational ways to boost subscribers and shake off the weak results of recent quarters.

Hastings wrote in a blog post on Thursday that over the past two and a half years, "the epidemic and recent business challenges have brought us a baptism of fire."

In addition, Bela Bajaria, the company's global television director, will be promoted to chief content officer. Global film director Scott Stubb (Scott Stuber) will be chairman of Netflix Pictures.

Netflix also announced fourth-quarter results on the same day, with revenue of $7.85 billion and analysts' expectations of $7.86 billion. The number of households paid for streaming media increased by 7.66 million in the fourth quarter, and is expected to increase by 4.5 million. The Nai Frisbee rose by more than 7%.

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