Billionaire Netflix co-founder Reed Hastings quits after earnings miss

City AM — Apr 17, 06:45 AM

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The billionaire co-founder and chair of Netflix has quit after the streaming giant’s weak financial outlook spooked the market.

Reed Hastings, who co-founded Netflix 29 years ago, told investors he will not stand for re-election in June and will focus on philanthropy once he leaves the firm.

The shock departure comes after the streaming giant https://www.cityam.com/billionaire-netflix-co-founder-reed-hastings-quits-after-earnings-miss/">[...]

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Netflix co-founder Reed Hastings exits

Netflix Shares Tank on Weak Forecast; Hastings Steps Down Bloomberg — Apr 17, 17:54 PM
What next for Netflix as Reed Hastings steps down after almost 30 years? The Times — Apr 17, 17:50 PM
What's Next for Reed Hastings? Bloomberg — Apr 17, 15:07 PM
Netflix slumps as muted forecasts, Hastings exit deepen growth worries CTV News — Apr 17, 15:17 PM
Netflix cofounder and chairman Reed Hastings to step down from board of directors ABC News — Apr 17, 11:59 AM