Greg Peters has officially been promoted to Co-CEO of Netflix, alongside current CEO Ted Sarandos, after founder Reed Hastings stepped down from the role.
“I’m so proud of our first 25 years, and so excited about our next quarter of a century. We can do so much more to better entertain the world and deliver more joy to our members,” said Hastings in an official statement.”
He added that the board had been planning for the venture’s succession for several years. Sarandos was promoted to Co-CEO alongside him in 2020, while Peters was promoted to COO.
“Going forward, I’ll be serving as Executive Chairman, a role that founders often take (Jeff Bezos, Bill Gates, etc.) after they pass the CEO baton to others. Ted, Greg and I have been working closely together in different capacities for 15 years.
“As is common in long, effective relationships, we’ve all learned how to bring out the best in each other. I look forward to working with them in this role for many years to come,” he further added.
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