Published , by TJ Denzer
Published , by TJ Denzer
As we dig deeper into 2023, it’s getting to be the time of season where various companies are reporting their quarter-end financial results, and Netflix is one of the first up on the block this year. It just reported its Q4 2022 financial results, and with it, a few further details. One of them is that co-CEO and cofounder Reed Hastings is stepping down from the CEO role to move elsewhere in the company. Hastings will instead become Chairman of the Board of Directors at Netflix.
This news was reported in Netflix’s Q4 2022 earnings results, which were posted on the company’s investor relations website on January 19, 2023. It was in said report that Hastings’ shift in positions was announced. As Hastings moves to his new position as Executive Chairman of the Board at Netflix, Ted Sarandos will still remain as co-CEO of the company, joined now by Greg Peters. Previously, Peters was in the Chief Operating Officer at the company.
Greg Peters was happy and humbled to speak to his new role at the company in a statement along the financial results:
Sarandos also shared words on the shift in the company’s management.
Netflix reported a huge boost in subscribers alongside its Q4 2022 earnings results. For more financial reporting, be sure to keep it locked here at Shacknews.