Netflix CEO Reed Hastings is stepping down from Microsoft’s board of directors next month.
Hastings says he will end his five-and-half-year stint on the software maker’s board to concentrate on running Netflix Inc at a time the video subscription service is facing an assortment of challenges threatening its future growth.
Hastings, 51, will leave the board when Microsoft Corp holds its annual shareholders’ meeting next month. The date of that gathering hasn’t been set.
Hastings’ departure will create an opening for a new lead independent board member. Microsoft plans to fill that void at its annual meeting. After Hastings leaves, Microsoft will have nine directors.
Hastings will still serve on several other boards, including Netflix’s and Facebook Inc.’s.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.