Netflix Founder Reed Hastings Steps Down As Co-CEO

Netflix Founder Reed Hastings , Steps Down As Co-CEO.

CNBC reports that Netflix made the announcement on Jan.

19.

Greg Peters will join Ted Sarandos as co-CEO.

Greg Peters will join Ted Sarandos as co-CEO.

Sarandos issued a statement about Hastings stepping down.

I want to thank Reed for his visionary leadership, mentorship and friendship over the last 20 years.

, Ted Sarandos, Netflix co-CEO, via statement.

We’ve all learned so much from his intellectual rigor, honesty and willingness to take big bets — , Ted Sarandos, Netflix co-CEO, via statement.

... and we look forward to working with him for many more years to come, Ted Sarandos, Netflix co-CEO, via statement.

Hastings took to Twitter to share that he plans to "serve as Executive Chairman for years to come.".

Netflix also revealed its fourth-quarter earnings report.

The company says it met Wall Street's expectations and added millions more subscribers than anticipated