Reed Hastings stepped down as co-CEO of Netflix

Netflix co-founder and co-CEO Reed Hastings is stepping down as CEO. He will remain the executive chairman of the company.

Ted Sarandos, chief content officer, and Greg Peters, chief product officer and formerly COO, will now serve as co-CEOs, Hastings said in a tweet.

“Ted and Greg are now Co-CEOs. After 15 years together we have a great shorthand and I am very confident in their leadership. Double the heart, double the ability to please members and accelerate growth. Proud to serve as Executive Chairman for many years to come, ” Hastings Tweet.

The announcement comes as Netflix reports Q4 2022 earnings on Thursday.

More coming