Netflix co-founder Reed Hastings makes shock exit,…
Netflix Chairman Reed Hastings is leaving the streaming service he co-founded 29 years in the past as the company regains its footing after it misplaced its $72 billion deal for Warner Bros Discovery.
In a letter to traders launched on Thursday, Netflix said Hastings is not going to stand for re-election at its annual assembly in June and plans to focus on philanthropy and other pursuits.
The company’s stock plunged around 8% on the news of Hastings’ departure. The company’s co-founder is credited with serving to to revolutionize how motion pictures and tv exhibits are delivered in…
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