Co-founder Reed Hastings to step down from Netflix board

Chair’s decision to not seek re-election in June ‘not as a result of any disagreement’, company says in SEC filing

Netflix chair Reed Hastings is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72bn deal for Warner Bros Discovery.

In a letter to investors released on Thursday, Netflix said Hastings will not stand for re-election at its annual meeting in June and plans to focus on philanthropy and other pursuits.