Reed Hastings Steps Down as Netflix CEO, And Shares Rise

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As Netflix sees it, “2022 was a tough year, with a bumpy start but a brighter finish.”


What will come in 2023 for the OTT giant will now be under the day-to-day purview of co-CEOs Ted Sarandos and Greg Peters.

That’s because Reed Hastings is going by the titles of founder and Executive Chairman. And, that seems to be positive news for investors, as Netflix was up sharply in immediate after-hours trading on Thursday.

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