EXPLAINED | Reed Hastings steps down from Netflix: Inside story of the streaming giant's rise and struggle
Netflix co-founder Reed Hastings recently announced his decision to step down from the company as co-CEO. The decision preceded almost a whole year of bad financial reports. Now, Greg Peters, the former COO, will be the new co-CEO in his stead and run the company with Ted Sarandos. Over the last year, the streaming giant has faced financial woes one after another, though there have been reasons to celebrate as well. We do now know for sure whether Netflix's losses over the last year still played a part in Hastings' sudden decision. But it is likely that is the case.
Source: wionews.com
