Ted Sarandos was just named co-chief executive officer at Netflix Inc. and already he faces a difficult task: soothing investor anxiety about slowing growth at the video-streaming giant.
The company tapped its longtime chief content officer to take the top job, alongside current CEO Reed Hastings, on a day when it delivered a disappointing subscriber forecast and sent its shares plunging. The stock was down as much as 7.8% to $486.42 in New York on Friday, in its biggest tumble since March.
