Greg Peters has been promoted to co-CEO alongside Ted Sarandos, with Bela Bajaria and Scott Stuber also seeing promotions.
Peters, in particular, has been taking on additional responsibilities at the company, including three top priorities: The launch of the advertising tier, its gaming efforts, and its coming crackdown on password sharing.
In addition, Hastings announced that Bela Bajaria has been promoted to Netflix chief content officer, and Scott Stuber has been named chairman of Netflix Film.years,” Sarandos said in a statement. “Since Reed started to delegate management to us, Greg and I have built a strong operating model based on our shared values and like-minded approach to growth. I am so excited to start this new chapter with Greg as co-CEO.
Hastings began Netflix in 1997 with Marc Randolph, and has overseen every strategic maneuver since, from billing itself as “the world’s largest online DVD rental store,” to finding ways to take on and ultimately topple early rival Blockbuster . The company, which he took public in 2002 with a share price of $15, now trades on the NASDAQ at $319 a share and boasts 230 million-plus subscribers globally.
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