Netflix’s Reed Hastings Is Stepping Out on a High Note – and the New Co-CEO Has Work to Do | Analysis

”Incoming Co-CEO Greg Peters will have a number of major decisions on his plate,“ one analyst told TheWrap

Reed Hastings — one of Netflix’s founders over 25 years ago who ushered the company from mail-order DVD service to the world’s first streaming network — signaled the end of an era on Thursday after revealing he would transition into the role of executive chairman and hand off Netflix’s co-CEO reins to chief operating officer Greg Peters.

After a couple wobbly quarters in early 2022, the world’s No. 1 streamer has somewhat recovered. That gives Hastings an opportunity to move out of the co-chief job a hero (or pull an “Iger” as some have referred to it). But that leaves a ton of work for standing co-CEO Ted Sarandos and incoming Peters.

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Lucas Manfredi

Lucas Manfredi is a TV Business reporter with TheWrap. He has a Bachelor of Science in Television-Radio from Ithaca College. He can be reached at lucas.manfredi@thewrap.com.