Netflix Co-Founder Reed Hastings Stepping Down After 29 Years

Hastings, who transformed Netflix from a DVD-by-mail service to a streaming giant, will focus on philanthropy and other pursuits.

Apr. 17, 2026 at 12:20am by

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A photorealistic studio still life featuring a stack of DVDs, a streaming remote control, and a laptop computer arranged on a clean, white background, symbolizing the evolution of home entertainment from physical media to digital streaming.As Netflix transitions from its DVD-by-mail origins to a streaming giant, this still life captures the company's journey from physical media to digital entertainment.San Francisco Today

Reed Hastings, the co-founder and longtime chairman of Netflix, is stepping down from the company's board after 29 years. Hastings, who co-founded Netflix as a DVD-by-mail service and led its transformation into a dominant streaming platform, will leave the board in June to focus on his philanthropic work and other endeavors.

Why it matters

Hastings' departure marks the end of an era for Netflix and the broader tech industry. As one of the pioneers of the subscription-based streaming model, Hastings' vision and leadership were instrumental in shaping the modern entertainment landscape. His exit comes as Netflix faces increasing competition from rival streaming services and grapples with slowing subscriber growth.

The details

Hastings, 65, resigned as co-CEO of Netflix in 2023, handing over control of the company to co-CEOs Ted Sarandos and Greg Peters. He remained as chairman of the board, but has now informed the company that he will not stand for re-election when his current term expires in June. In the company's earnings report, Netflix praised Hastings' 'vision and leadership' that 'pioneered how the world is entertained' and said his 'legacy and impact are not only felt by all of us at Netflix, but by audiences around the world.'

  • Hastings co-founded Netflix in 1997 as a DVD-by-mail service.
  • Hastings resigned as co-CEO of Netflix in 2023.
  • Hastings will leave the Netflix board in June 2026 when his current term expires.

The players

Reed Hastings

The co-founder of Netflix who served as the company's chairman for 29 years and helped transform it from a DVD-by-mail service into a dominant streaming platform.

Ted Sarandos

The co-CEO of Netflix who will continue to lead the company after Hastings' departure from the board.

Greg Peters

The co-CEO of Netflix who will continue to lead the company after Hastings' departure from the board.

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What they’re saying

“Netflix changed my life in so many ways, and my all‑time favorite memory was January 2016, when we enabled nearly the entire planet to enjoy our service.”

— Reed Hastings

What’s next

Hastings will officially depart Netflix's board at the company's annual meeting in June 2026.

The takeaway

Hastings' departure marks the end of an era for Netflix and the tech industry, as he was one of the pioneers who transformed the entertainment landscape through the subscription-based streaming model. His legacy will continue to shape the future of the company and the broader media landscape.