Reed Hastings is stepping down as Netflix’s co-CEO

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Reed Hastings is stepping down as Netflix’s co-CEO
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Ted Sarandos and Greg Peters are now co-CEOs.

As Netflix announced its quarterly earnings, co-founder Reed Hastings revealed that after 25 years of running the company that grew from mail order video disc rentals into a streaming behemoth, he is no longer its CEO.

, and Sarandos will continue on in that role but now sharing duties as co-CEO with Greg Peters, Netflix’s former chief operating officer. In other executive moves, Bela Bajaria is now Netflix’s chief content officer, and Scott Stuber has been named the chairman of Netflix Film.

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