Reed Hastings, Chairman and Co-Founder of Netflix, to Step Down from the Company Starting in June

During its first-quarter 2026 earnings report, Netflix revealed that Reed Hastings, Co-Founder and Chairman of Netflix, will not stand for re-election to the Board of Directors when his current term expires at the Annual Meeting in June, in order to focus on his philanthropic work and other pursuits.

“Netflix changed my life in many ways, and my all-time favorite memory was in January 2016, when we enabled almost the entire planet to enjoy our service. My real contribution at Netflix wasn’t a single decision; it was focusing on member satisfaction, building a culture that others could inherit and improve, and creating a company that could be both beloved by its users and enormously successful for generations. Special thanks to Greg and Ted, whose commitment to Netflix’s greatness is so strong that I can now focus on new things,” Hastings said in the statement.

Ted Sarandos, Co-CEO of Netflix, said: “Reed has been a unique source of inspiration for me, both personally and professionally, since we met in 1999. I’ve had the privilege of working for and alongside a true history-maker, and I look forward to everything he will do next. He has been a model for Greg and me of a selfless and disciplined leadership style that will continue to shape how we lead Netflix in the exciting times ahead.”

Greg Peters, Co-CEO of Netflix, added: “Reed will always be Netflix’s founder and driving force—he’s part of our DNA. His vision, entrepreneurial spirit, and unwavering commitment to our values have shaped every stage of our journey and continue to influence how Ted and I lead Netflix Today.”

BIO

Hastings is the Chairman of the Board of Directors of Netflix. He co-founded Netflix in 1997 and served as CEO for 25 years. Prior to Netflix, Reed founded Pure Software, which he took public and sold in 1997. He is a board member of Bloomberg and Anthropic, both private companies.

As a passion, Reed purchased Powder Mountain and is leading the expansion of the private real estate as CEO. He is an active educational philanthropist and was President of the California State Board of Education. Reed is currently on the board of several educational non-profits, including KIPP, City Fund, and the Charter School Growth Fund. He received a B.A. in math from Bowdoin College in 1983 and an M.S.C.S. in artificial intelligence from Stanford University in 1988. Between Bowdoin and Stanford, Reed served in the Peace Corps as a high school math teacher.