Reed Hastings to Depart Netflix Board in June After Nearly Three Decades

Reed Hastings, co-founder and chairman of Netflix, will leave the company's board in June when his term expires, marking the end of his nearly 30-year tenure. He announced his departure on Thursday, stating he plans to focus on philanthropy and other ventures. Hastings co-founded Netflix in 1997 with Marc Randolph, transforming it from a small DVD and video game rental shop into a global entertainment giant and the world's leading streaming platform. He served as CEO until 2020, when Ted Sarandos succeeded him. Hastings also held board positions at Facebook from 2011 to 2019 and at Microsoft from 2007 to 2012, contributing to his broad influence in the tech and media sectors. His exit signals a significant leadership transition for Netflix, which he helped build into a dominant force in digital entertainment.