News · 18 April 2026

Netflix co-founder Reed Hastings to exit company

Mondileinchen via Wikimedia Commons (CC BY-SA 4.0)

Netflix's share price fell around 8% after the announcement that its co-founder would be leaving the streaming service. Reed Hastings, who helped establish the company nearly three decades ago, is stepping down as chairman to pursue other interests. He has decided to step down and not seek another term at the organization's yearly June gathering, primarily motivated by a commitment to philanthropic pursuits.

By BriefTea Editorial · 18 April 2026 at 7:31

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