Reed Hastings is stepping down from Netflix's board in June, ending a 29-year run at the company he co-founded and helped transform from a DVD-by-mail business into a global streaming giant. Hastings said in a shareholder (PDF) letter that heâ(TM)s stepping down to focus on "his philanthropy and other pursuits." Engadget reports: Hastings has served as chairman of Netflix's board since 2023, a role he assumed after stepping down as co-CEO and promoting Greg Peters in his place. "Netflix changed my life in so many ways, and my all-time favorite memory was January 2016, when we enabled nearly the entire planet to enjoy our service," Hastings said in a statement. "My real contribution at Netflix wasn't a single decision; it was a focus on member joy, building a culture that others could inherit and improve, and building a company that could be both beloved by members and wildly successful for generations to come. A special thanks to Greg and Ted, whose commitment to Netflix's greatness is so strong that I can now focus on new things."

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