April 16 (UPI) — Netflix found and former CEO Reed Hastings announced on Thursday that he will resign from its board and leave the company later this year.
Hastings, whose idea for a mail-based DVD rental service that invented the television and movie streaming industry, said in a statement that when his term as chairman of the Netflix board ends in June, he will not seek re-election, The Los Angeles Times reported.
He said he made the decision to leave because the company’s current co-chief executives, Ted Sarandos and Greg Peters, are “so strong that I can focus on new things.”
The exponential growth of Netflix, which now includes…
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