Netflix Caps Its Hollywood Transformation With Sarandos Move
- Center of gravity shifts south with appointment of co-CEO
- Content chief pushed Netflix to produce original shows, films
Netflix Inc.’s transformation from a Silicon Valley upstart to a Hollywood studio is complete.
The streaming giant on Thursday named Ted Sarandos, the longtime head of its Hollywood operations, to be co-chief executive officer, alongside co-founder and current CEO Reed Hastings. Sarandos has worked at Netflix for two decades, rising from the head of a small content team to become the second-most-powerful executive at the company. He’ll also join the board of directors.