Netflix co-founder Reed Hastings to step down as chairman

Hastings set up the company in 1997, when it rented DVDs to customers and delivered by post.

Reed Hastings, the 65-year-old co-founder of Netflix, announced that he will step down from the company's board when his term ends in June 2026. Hastings played a crucial role in transforming Netflix into one of the most influential media companies globally.

Netflix cofounder and chairman Reed Hastings will step down from the streaming service's board of directors in June when his term expires, the company said on Thursday. Hastings plans to focus on philanthropy and other pursuits.

Reed Hastings, the co-founder and chairman of Netflix, is leaving the company’s board when his term expires this summer. Hastings is stepping aside to focus on philanthropy and other pursuits, the company said in a letter to shareholders.