LOS ANGELES : Netflix Inc co-founder Reed Hastings said on Thursday he will step down as chief executive, handing the reins of the streaming service to longtime partner and co-CEO Ted Sarandos and the company's chief operating officer, Greg Peters.Shares of the company, which had fallen nearly 38 per cen
LOS ANGELES : Netflix Inc co-founder Reed Hastings said on Thursday he will step down as chief executive, handing the reins of the streaming service to longtime partner and co-CEO Ted Sarandos and the company's chief operating officer, Greg Peters.
Hastings made his exit as Netflix said it added 7.66 million subscribers in the fourth quarter, beating Wall Street forecasts of 4.57 million with help from"Harry & Meghan" and"Wednesday" in the battle to attract streaming television viewers. The company is facing restrained consumer spending and competition from Walt Disney Co, Amazon.com Inc and others spending billions of dollars to make TV shows and movies for online audiences.
"2022 was a tough year, with a bumpy start but a brighter finish. We believe we have a clear path to reaccelerate our revenue growth," Netflix said in its quarterly letter to shareholders.Audiences flocked to Addams family tale"Wednesday," the third-most watched show in Netflix history, the company said. Murder mystery"Glass Onion" and British royals documentary"Harry & Meghan" also were hits during the quarter.
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Reed Hastings steps down as Netflix CEO as company posts subscriber gainsLOS ANGELES : Netflix Inc co-founder Reed Hastings announced on Thursday he will step down as chief executive, handing the reins of the streaming service to his longtime partner and co-CEO, Ted Sarandos, and the company's chief operating officer, Greg Peters.Shares of the company, which had fallen nearly
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Australia's Snowy Hydro names new CEO at tough junctureMELBOURNE : Australia's government-owned Snowy Hydro on Wednesday named the former boss of Contact Energy, Dennis Barnes, as its new chief executive, to replace its long-time head who suddenly quit last August.Barnes takes on the job from Feb. 1, just as Snowy Hydro reviews delays and cost blowouts on a h
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New Juventus CEO aims to grow club on and off the pitchROME : Juventus's new chief executive Maurizio Scanavino said on Wednesday he aimed to help the Serie A club make progress in terms of both trophies and business results.'Our sporting goals and ambitions don't change, just as our company goals don't change either,' Scanavino told reporters after a shareho
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Sacked GM workers in India sue company, CEO Barra for unpaid compensationNEW DELHI :A union in India has sued General Motors' local unit and its global CEO for failing to pay court-ordered compensation to sacked factory workers, deepening the U.S. automaker's struggles to exit the country years after it shuttered local operations.GM stopped selling cars in India in 2017 after year
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