Reed Hastings, co-founder of Netflix, is stepping down from the CEO submit on the firm he based 25 years in the past.
Ted Sarandos and present COO Greg Peters will lead the streaming video service as co-CEOs, Netflix introduced.
Hastings mentioned he plans to proceed as govt chairman, a stepped-back position usually taken by firm founders as a part of a succession plan.
The firm’s inventory jumped in after-hours buying and selling on the announcement.
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