Netflix co-founder Hastings steps down as CEO as company adds subscribers

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Reuters UK

By Lisa Richwine and Dawn Chmielewski LOS ANGELES (Reuters) – 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% in the past year, rose 6.1% to $335.05 in after-hours trading as the streaming video pioneer also said it had picked up more subscribers than expected at the end of last year. Netflix has been under pressure after losing customers in the first half of …

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