Netflix’s Reed Hastings becomes chairman and lets executive director fall
Netflix -founder Reed Hastings has declined from his role of executive chairman at the streaming service. He will now act as chairman of the council and in a non-executive director.
Hastings Role Change was announced on Thursday in Netflix’s last quarterly win report. Also included in the financial data was the news that Netflix’s longest existing independent director Tim Haley will not stand for re -election.
“For more than 27 years, Tim has been a much appreciated part of our success on this trip with us and his council and leadership,” Netflix said in a letter to shareholders. “We thank Tim for his long service and many contributions to the Netflix council of board.”
Netflix reported the turnover of $ 10.54 billion, an increase of 12.5%and a profit per share of $ 6.61 (compared to $ 5.28 per year earlier). This quarter from January to March is the first quarter that Netflix has no longer revealed with making subscribers public, because the company wants to concentrate the story on financial and user involvement.
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