Netflix cofounder Hastings to step down after it lost Warner Bros deal
The company's stock plunged about 8 percent on the news of Hastings's departure.
Netflix cofounder Hastings to step down after it lost Warner Bros deal
The company's stock plunged about 8 percent on the news of Hastings's departure. Grouped from 2 articles across 2 sources.
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Clustered coverageAl Jazeera, The Guardian
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Co-founder Reed Hastings to step down from Netflix board
Chair’s decision to not seek re-election in June ‘not as a result of any disagreement’, company says in SEC filing Reed Hastings, the Netflix chair, is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery. In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits. Continue reading...
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