Netflix announced that Ted Sarandos has been appointed co-CEO of the company, alongside co-founder Reed Hastings.
CEO Reed Hastings announced the appointment on Thursday, as the company released its second-quarter earnings, in which it gained 10.1 million new subscribers.
Sarandos, 55, will continue to serve as content chief and also was elected to Netflix’s board of directors.Ted Sarandos has worked at Netflix for more than two decades. He will continue to lead its content business as chief content officer and nothing about his day-to-day role is expected to change.
My journey to co-CEO of Netflix has been as a fan of great entertainment. And that’s my commitment to Netflix members going forward: to keep pushing the boundaries of what a consumer-first company can achieve for people who love stories,” Sarandos said.
Greg Peters has been appointed Netflix’s chief operating officer, adding to his chief product officer role. “We want Greg to help us stay aligned and effective as we grow so quickly around the world,” said Hastings. Greg’s appointment as Chief Operating Officer reflects the strategic and analytical strengths he’s brought to our product team over the past 10 years.
The news comes as Netflix continued its strong subscriber growth momentum. It added 10.1 million subscribers during its second quarter, boosting its global base to nearly 193 million.