Netflix Co-Founder Reed Hastings to Step Down from Board of Directors

Jakarta (ANTARA) - Netflix’s leader and one of its co-founders, Reed Hastings, will leave the company’s board of directors after his term ends in June 2026. Citing TechCrunch on Friday, Netflix disclosed this in its first-quarter performance report to shareholders. The company stated that Reed will concentrate on philanthropic activities and other pursuits beyond the company. “Netflix has changed my life in many ways, and my favourite memory is January 2016, when we enabled nearly the entire world to enjoy our service,” Reed said. Reed also expressed appreciation to Netflix CEO Ted Sarandos and Co-CEO Greg Peters. Netflix was founded by Reed along with Marc Randolph in 1997 as a film rental service with a subscription model via DVD deliveries to customers’ homes. Netflix noted that Reed successfully built a culture of innovation, integrity, and high performance that defines the company today. “His vision and leadership pioneered the way the world consumes entertainment, and his legacy and impact are felt not only by all of us at Netflix but also by viewers worldwide,” Netflix stated. From a business perspective, Netflix reported revenue of $12.25 billion in the first quarter of 2026, up 16.2% from the same period last year. The company’s net profit also soared nearly 83% to $5.28 billion. Additionally, Netflix stated it is expanding its focus to new technologies, including in the field of generative artificial intelligence. The company has also acquired the film technology firm InterPositive, founded by actor Ben Affleck.