Netflix’s Reed Hastings Shifts to Chairman of the Board Role

Netflix’s co-founder Reed Hastings will be stepping down from his role as Executive Chairman.

Moving forward, Hastings will be Chairman of the Board as well as a non-executive director. The news, which was made “as part of the natural evolution of our leadership structure and succession planning,” was announced as part of Netflix’s first quarter earnings report for 2025.

Additionally, Tim Haley, who is the longest standing independent director for the company, will not be returning for re-election. This decision was not related to Hasting’s role change.

“For more than 27 years, Tim has been on this journey with us and his counsel and leadership have been a much valued part of our success. We thank Tim for his long service and many contributions to the Netflix Board of Directors,” Netflix wrote in a letter to shareholders.

Hastings co-founded Netflix with Marc Randolph in 1997 and served as the streamer’s co-CEO for 25 years before stepping down from the role in 2023 to become Netflix’s executive chairman. When Hastings shifted to become executive chairman in 2023, Greg Peters stepped up as co-CEO, joining co-CEO Ted Sarandos, who was named Netflix’s co-CEO in July 2020.

As Hastings transitioned to executive chairman in 2023, he likened the role to one that “founders often take (Jeff Bezos, Bill Gates, etc.) after they pass the CEO baton to others.” “Ted, Greg and I have been working closely together in different capacities for 15 years,” Hastings said at the time. “As is common in long, effective relationships, we’ve all learned how to bring out the best in each other. I look forward to working with them in this role for many years to come.”

Prior to founding Netflix, Reed founded Pure Software in 1991, which was eventually acquired by Rational Software in 1997. Reed served on the California State Board of Education from 2000 to 2004, and currently sits on the board of several educational organizations, including KIPP and Pahara. 

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