Netflix Inc. announced on Thursday that Greg Peters joined Ted Sarandos as the co-CEO, while Reed Hastings stepped down from the role and became executive chairman.
In the company's letter to shareholders, Sarandos praised Hastings for his "visionary leadership," while congratulating Peters and stressing they "have built a strong operating model based on our shared values and like-minded approach to growth." Peters expressed gratitude for joining Sarandos in the role, noting their shared goal to "better serve our members so that we can continue to grow our business."
The streaming giant also declared that Bela Bajaria has been named chief content officer, while Scott Stuber is to become the new chair of Netflix Film.
