Netflix appoints its Content Chief Ted Sarandos as co-CEO
Netflix appoints its Content Chief Ted Sarandos as co-CEO with co-founder and current CEO Reed Hastings. Sarandos will also continue to serve as the company’s chief content officer, and he’s joining the board of directors as well.
Sarandos, who joined Netflix in 1999 and has been with the company for more than 20 years, has long served as chief content officer, a role that has involved overseeing Netflix’s massively successfully originals program starting with series like Orange is the New Black and House of Cards. Since then, Sarandos has transformed the company into one of the biggest power players in Hollywood. As part of the move, Sarandos has also been elected to the board of directors.
Netflix has also appointed Greg Peters to be our Chief Operating Officer, in addition to his role as Chief Product Officer.
In a blog post, Hastings recalled meeting Sarandos more than 20 years ago and said Ted and I first met in October 1999 after I read an article in Video Business and asked a mutual friend to connect us. We were just getting started and we needed someone with his deep experience in the video rental market.”
“In terms of the day-to-day running of Netflix, I do not expect much to change. Our key executive leadership groups are unchanged. So think of Ted’s well-deserved promotion formalizing how we already run the business today”, Hastings said
he said, “These changes are part of a long process of succession planning. While transitions can be hard, I am optimistic because we have a well established culture that’s built to be flexible and many years to get good at this. I’m committed to Netflix for the long term.”
On his appointment, Ted Sarandos said, “My journey to co-CEO of Netflix has been as a fan of great entertainment. And that’s my commitment to Netflix members going forward: to keep pushing the boundaries of what a consumer-first company can achieve for people who love stories.”