Netflix co-founder Reed Hastings to leave board after 29 years

Netflix co-founder Reed Hastings will depart the streaming company's board in June to focus on philanthropic efforts and other pursuits, according to a shareholder letter released with the company's first-quarter earnings. Hastings, who has served as chairman since stepping down as co-CEO in 2023, founded Netflix in 1997 as a DVD- The executive helped launch Netflix's original content production in 2013 and oversaw the appointment of Ted Sarandos as co-CEO in 2020. Hastings stepped back from daily operations in 2023 when Greg Peters was promoted to co-CEO alongside Sarandos. Hastings will retain board seats at AI startup Anthropic and media software firm Bloomberg. Netflix continues to expand beyond traditional streaming into areas including party games, video podcasts and live sports.