Netflix Co-Founder Reed Hastings Steps Down From Board

Reed Hastings is leaving Netflix’s board of directors. The co-founder and chair, who built Netflix from a DVD-by-mail service into a streaming giant worth hundreds of billions, will step down from the company he started in 1997.

Hastings spent nearly three decades at Netflix, steering the company through massive shifts in how people watch video. He moved the business from physical rentals to streaming before most competitors realized the shift was coming. Under his leadership, Netflix grew to over 200 million subscribers worldwide.

The move marks the end of an era for Netflix, though Hastings’ departure from the board doesn’t mean he’s entirely exiting the company. His exact role going forward remains unclear.

Based on reporting from TechCrunch.