- Netflix saw its stock prices rebound in 2023 after subscriber losses and widespread layoffs in 2022.
- In January, Greg Peters was named co-CEO along with Ted Sarandos, and Reed Hastings became executive chairman.
- Insider identified 72 of the most powerful execs at Netflix now. Check out our interactive org chart.
Netflix’s evolution from hungry ripper to cutting-edge streaming service has taken Hollywood by storm over the past 15 years, and as the company continues to expand its footprint around the world, it hasn’t been afraid to shaking up its own executive team.
Even more moves than usual have been made in the past year, after Netflix saw its stock price and challenge for industry dominance last year amid what many entertainment industry observers demanded. “The Big Netflix Fix.” For the first time in more than a decade, the streamer lost subscribers in the first two quarters of 2022, and made hundreds of layoffs that spring.
But in 2023, the company has regained its swagger – its share price is up about 60% year to date, partly on the strength of its new ad-supported series, and it still leads the streaming pack with 232.5 million subscribers worldwide.
In January, Netflix announced its most significant leadership shakeup yet: Greg Peters, the company’s former COO and chief product executive, stepped up as co-CEO with Ted Sarandos, and co-founder Reed Hastings moved to executive chairman. In that move, Bela Bajaria was named chief content officer, a title previously held by Sarandos, with Scott Stuber, now the company’s film chairman, reporting to her.
Another big boost to the org chart came a few months earlier, when former Snap executive Jeremi Gorman was hired to lead Netflix’s campaign in advertising, a business the company had long said it would not pursue. Gorman arrived a few months after the departure of Bozoma Saint John, the company’s chief marketing officer, who replaced one of his deputies, Marian Lee.
The streamer’s core leadership includes approximately 25 executives, known internally as the Lstaff, with a variety of perspectives, backgrounds and responsibilities. Among them are C-suiters like chief financial officer Spencer Neumann and Lee, the CMO, as well as business leaders like Bajaria and Stuber.
Outside of Lstaff, other executives responsible for key initiatives within the company include Peter Friedlander, head of US and Canadian scripted series; Josh Simon, a former Nike executive who runs Netflix’s consumer products division; and Mike Verdu, who heads his venture into video games.
Not all of the streamer’s top leaders appear on this chart: Netflix bought Millarworld in 2017, the comic book publisher launched by Mark Millar, who still runs his company as CEO; likewise, Zareh Nalbandian remains the CEO of Animal Logic, the Australian animation studio that moved to Netflix in July 2022.
As the Hollywood writers’ and actors’ strikes have halted Hollywood’s creative development, Netflix says it has bankrolled plenty of content to keep users coming back. But the company set plans to cut $300 million in spending this year, The Wall Street Journal reported, at a time when economic headwinds are threatening the most powerful giants in entertainment.
Insider has identified 72 of Netflix’s most powerful executives now – here’s an inside look at who’s leading the streamer to new businesses and an increasingly global future.
This post was last updated on 19 July 2023. An older version was contributed by Elaine Low.
Do you have tips about working at Netflix? Email Lucia Moses at email@example.com, or Ashley Rodriguez at firstname.lastname@example.org.