Jul 16, 2020 - Economy

Netflix appoints content chief as co-CEO

Photo of Netflix chief of content Ted Sarandos at a podium

Netflix Chief Content Officer Ted Sarandos. Photo: Charley Gallay/Getty Images for Netflix

Netflix has named head of content Ted Sarandos as co-CEO of the company, alongside chief executive Reed Hastings, it said Thursday when it released its quarterly earnings.

Why it matters: Co-CEO arrangements often prove unsustainable as long-term plans for running companies. It's likely this is a step toward Sarandos eventually heading the company on his own.

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