Netflix co-founder Reed Hastings to step down from the board in June; Q1 results strong

Netflix posted stronger first-quarter results, with both revenue and profit rising.

Co-founder Reed Hastings will step down from the board at the annual shareholder meeting in June.

Hastings, who left his co-CEO role in 2023, said he now plans to focus on philanthropy.

The move signals Netflix is entering a new phase in its leadership structure.