Netflix co-founder Hastings exits as streaming company seeks new growth
Netflix is heading into a pivotal stretch without the executive who helped build it from scratch, as Chairman Reed Hastings prepares to leave the streaming company he co-founded 29 years ago.
Hastings, 65, is stepping away at a difficult moment for the business. Netflix is trying to unlock new growth as sales come under pressure from intensifying competition, while a potentially transformative merger with Warner Bros Discovery collapsed in February.
Late yesterday, Netflix projected current-quarter earnings per share below…