Netflix Praises Departing Co-Founder Reed Hastings as 'Selfless, Disciplined and Graceful' Leader

Hastings, who transformed Netflix from a DVD-by-mail service to the world's biggest streaming platform, will leave the company's board in June 2026.

Apr. 16, 2026 at 10:19pm

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A minimalist studio still life featuring a sleek laptop, business documents, and a single red rose, symbolizing the transition of power and the lasting influence of Netflix co-founder Reed Hastings' leadership.As Netflix co-founder Reed Hastings departs the company's board, the elegant simplicity of this studio still life captures the thoughtful transition of power and the lasting impact of his visionary leadership.Los Gatos Today

Netflix co-CEOs Ted Sarandos and Greg Peters expressed heartfelt gratitude and admiration for Reed Hastings, the company's co-founder, chairman and former CEO, who will depart the Netflix board in June 2026. Sarandos and Peters praised Hastings' visionary leadership, risk-taking, and commitment to company values, as well as his selfless approach to succession planning and transition.

Why it matters

Hastings' departure marks the end of an era for Netflix, as he was instrumental in steering the company's transformation from a DVD-by-mail service to the global streaming giant it is today. His leadership style and principles have deeply shaped Netflix's culture and business approach, making his exit a significant moment for the company.

The details

Hastings, who stepped down as Netflix's co-CEO in early 2023 but remained as chairman, will now depart the company's board in June 2026. During Netflix's Q1 earnings call, Sarandos and Peters expressed their personal gratitude and admiration for Hastings, highlighting his commitment to succession planning, willingness to take risks, and dedication to the company's values. They praised Hastings' 'selfless, disciplined and graceful' approach to leadership and transition.

  • Hastings stepped down as Netflix's co-CEO in early 2023.
  • Hastings will depart the Netflix board in June 2026.

The players

Reed Hastings

The co-founder, chairman and former CEO of Netflix, who transformed the company from a DVD-by-mail service to the world's biggest streaming platform.

Ted Sarandos

The co-CEO of Netflix, who praised Hastings' leadership and mentorship in shaping his own career.

Greg Peters

The co-CEO of Netflix, who also expressed deep gratitude for Hastings' example of 'selfless, disciplined and graceful' leadership.

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What they’re saying

“Reed is an economist and an engineer in his head, but he's a teacher in his heart. And Reed not only shared the spotlight, a real rarity in Hollywood, by the way, he pushed me into the spotlight and celebrated the wins and coached through the misses, and, in short, made me the executive that I am today.”

— Ted Sarandos, Co-CEO, Netflix

“We now bring stories from around the world to audience in ways that weren't possible or even imaginable for and we got to this point because greed has a way of pushing you to think bigger, to be more honest, not only with others, but with yourself, to own your decision, but always in a way that made you feel supported, trusted.”

— Greg Peters, Co-CEO, Netflix

What’s next

Netflix's board of directors and nominating committee will work to select a new chairman to replace Hastings in the coming months.

The takeaway

Hastings' departure marks the end of an era at Netflix, as his visionary leadership and commitment to company culture have been instrumental in the streamer's rise to global dominance. His 'selfless, disciplined and graceful' approach to succession planning and transition will serve as a model for future leaders.