Netflix Co-CEOs Ted Sarandos And Greg Peters Signal No Near-Term Strategic Changes As Reed Hastings Passes The Baton: “Mostly It’s Just Continuity And Moving Forward”
deadline.comNewly minted Netflix Co-CEO Greg Peters and Ted Sarandos, who has held that title since 2020, say no major strategic shifts are in the immediate offing after Reed Hastings passed them the leadership baton. “We don’t have a bank of changes that we’ve been holding for this moment,” Peters said during the company’s fourth-quarter earnings interview, “so mostly it’s just continuity and moving forward.” Hastings, who co-founded Netflix, is stepping down from an executive role and becoming executive chairman of the company.
He said during the earnings interview that the move had its roots a decade ago, as the two Co-CEOs began establishing their bona fides.
Peters, at that time a senior product executive, spearheaded the company’s move from the physical DVD business to streaming over the internet in the mid-2000s.
Sarandos scaled the company’s original content efforts. The news of the executive changes (with promotions and new titles for Scott Stuber and Bela Bajaria as well) came out at the same time the company reported gaining almost 7.7 million subscribers in the fourth quarter.
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