“2022 was a tough year, with a bumpy start but a brighter finish,” the company said in a letter announcing bumper fourth-quarter earnings.
Netflix also announced that co-founder Reed Hastings was standing down as the Chief Executive Officer, ending a 25-year leadership that saw the company grow from a rent-by-mail DVD service to an entertainment juggernaut.
Hastings ceded control of Netflix to his two longtime associates Chief Operating Officer Greg Peters and Ted Sarandos, who has been the face of Netflix in Hollywood and had already been named co-CEO.
“It feels like yesterday was our IPO; we were covered in red envelopes,” Hastings said during an earnings call.
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