Reed Hastings Steps Down from Netflix Board, Unrelated to Failed Warner Bros. Deal, Says Ted Sarandos
Reed Hastings, co-founder of Netflix, has decided not to seek re-election to the board, ending his 29-year tenure with the company. Ted Sarandos, co-CEO of Netflix, stated that Hastings’s exit is unrelated to the failed $27.75 per-share acquisition of Warner Bros. The deal collapsed in February 2026 after Warner Bros. accepted a higher offer from Paramount Skydance.
Tickers: $NFLX
Topics: board resignation CEO exit Netflix Reed Hastings Warner Bros. deal